M&A M&A
Murugappa Group to buy German specialty chemicals co. Hubergroup for $310-M
Source Hubergroup (opens in a new tab)Economic Times (opens in a new tab)
Chennai-based Murugappa Group is to acquire German specialty chemicals firm Hubergroup for an enterprise value of USD 310 million. The acquisition was finalized this week and will see Murugappa, along with investment firm Avenue Capital Group, take full ownership of Hubergroup.The deal, financed through debt refinancing and equity infusion, will expand Murugappa's presence in the global print and packaging sector.