26
Oct
10:54
RHI Magnesita India acquires Hi-Tech Chemical’s refractory business
RHI Magnesita India has executed a business transfer agreement (BTA) to acquire the refractory business of Hi-Tech Chemicals. The acquisition will be processed by the way of a slump sale on a going concern basis for a cash consideration of INR 621 crores ($75.54 million), Kallanish notes.
The BTA will include only the acquisition of the refractory business and no acquisition of shareholding or shares is contemplated through this arrangement, RHI Magnesita informs …
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