Camlin Fine Sciences has received approval for strategic investment in AlgalR NutraPharms (AlgalR) by way of acquisition of equity shares amounting to 69.33% of the existing paid?up share capital (Secondary Purchase). The Committee has also approved subscription to the equity shares of AlgalR (Primary Subscription). Upon consummation of the Secondary Purchase and Primary Subscription, the Company will hold 80% of the paid?up capital of AlgalR on a fully diluted basis. The Company will now be executing the Investment Agreement, Share Purchase Agreement and the incidental agreements / documents with AlgalR and its promoters / other shareholders.
AlgalR provides an opportunity to the Company for expanding its footprint into the Nutraceuticals segment. Upon completion of the acquisition, the Company shall become the holder of 80% of the paid? up share capital of AlgalR on a fully diluted basis.
Camlin Fine Sciences is the world's second largest manufacturer and marketer of food grade antioxidants BHA (butylated hydroxyanisole) and TBHQ (Tertiary Butylhydroquinone).
Company Name | CMP |
---|---|
Tata Chemicals | 1069.40 |
SRF | 2165.85 |
Pidilite Inds. | 2958.60 |
Aarti Inds | 430.80 |
Atul | 7261.00 |
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