M&A M&A
Anupam Rasayan to buy majority stake in fellow chemicals maker Tanfac in Rs.302-Cr deal
Source BSE Announcement (opens in a new tab)Press Release (opens in a new tab)
Surat-based Anupam Rasayan India Ltd (ARIL), a custom synthesis and specialty chemical company, is to acquire a 24.96% stake in fellow publicly listed, Cuddalore, TN-based commodity chemicals maker Tanfac Industries Ltd (TIL) from Birla Group Holdings Pvt Ltd (BGH), part of the Aditya Birla Group, and other promoters of TIL for INR 148.14 crore. It will also launch an open offer to acquire a further 26% shareholding for (assuming full acceptance) INR 154.31 crore. The deal will be funded through debt.