Hotline: 1800 102 2007
X
Search Business Opportunities
Mar, 30 2017

Wadia Group buys out Belgian partner Solvay SA

Wadia Group earlier held a 45.4% stake in NPL. Public shareholders hold about 29.5% stake in the Mumbai-listed company. The statement didn’t disclose financial details of the transaction.

Wadia Group has increased its holding in specialty chemicals maker National Peroxide Ltd (NPL) to about 70.5% by buying out Belgian partner Solvay SA.

The Mumbai-based conglomerate, led by billionaire Nusli Wadia, bought Solvay’s 25.1% stake in an off-market transaction, according to a press statement.

Wadia Group earlier held a 45.4% stake in NPL. Public shareholders hold about 29.5% stake in the Mumbai-listed company. The statement didn’t disclose financial details of the transaction.

Shares of NPL closed at Rs 978.85 apiece on the BSE, giving it a market value of Rs 562 crore. At this price, Solvay’s stake would have been worth about Rs 140 crore.

NPL makes hydrogen peroxide, a chemical used in industries such as textile bleaching, chemical synthesis, paper and pulp and metal extractions. It also makes specialty chemicals such as sodium perborate.

National Peroxide competes with the likes of Gujarat Alkalis & Chemicals Ltd, which has a production capacity of 85,000 metric tonnes a year. The specialty chemicals segment in the country has seen several deals in the recent past.

Earlier this year, Mumbai-based nutraceuticals ingredients company OmniActive Health Technologies Ltd acquired a majority stake in fragrance and specialty chemical manufacturer Indfrag Ltd.

Comment
image
Related opportunities
  • Others Food Service
    About Us: Kake Di Hatti, an iconic eatery located in the..
    Locations looking for expansion Delhi
    Establishment year 1950
    Franchising Launch Date 1989
    Investment size Rs. 20lac - 30lac
    Space required 900
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Delhi Delhi
  • Quick Service Restaurants
    About Us: The One And Only "MOC The American Restaurant" A perfect..
    Locations looking for expansion Delhi
    Establishment year 2015
    Franchising Launch Date 2015
    Investment size Rs. 20lac - 30lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Others Food Service
    About : Everyday Anday was founded by Ms. Rashmi Joshi, with..
    Locations looking for expansion Maharashtra
    Establishment year 2016
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 450
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • Mens Wear
    About Us: Launched and Lofted in 2016, 7 spades strive to deliver..
    Locations looking for expansion New Delhi
    Establishment year 2016
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 250
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Delhi New Delhi
Insta-Subscribe to
Entrepreneur
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities