Hotline: 1800 102 2007
Hotline: 1800 102 2007
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 buys out Belgian partner Solvay SA

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.

sharebtn
Comment
user
email
mobile
address
star
Related opportunities
  • Juices / Smoothies / Dairy Parlors
    Format Investment Brand Fee Space Staff Exp. Monthly Sales Pro..
    Locations looking for expansion Karnataka
    Establishment year 2016
    Franchising Launch Date 2017
    Investment size Rs. 10lac - 20lac
    Space required 200
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Bangalore Karnataka
  • Gourmet Stores
    About Us: Roopak’s Pik-N-Pay is one of its kind stores offering..
    Locations looking for expansion Haryana
    Establishment year 1958
    Franchising Launch Date 2020
    Investment size Rs. 10lac - 20lac
    Space required 250
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Faridabad Haryana
  • Others Food Service
    Mahavir Mevawala is a Trusted Name Since 1989 Engaged in..
    Locations looking for expansion Haryana
    Establishment year 1989
    Franchising Launch Date 2020
    Investment size Rs. 5lac - 10lac
    Space required 150
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Faridabad Haryana
  • SSI security & facilities services is a HR consultancy provide..
    Locations looking for expansion Uttar pradesh
    Establishment year 2016
    Franchising Launch Date 2016
    Investment size Rs. 10000 - 50000
    Space required 500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Bareilly Uttar pradesh
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities