India’s Bodal Chemicals Limited has entered into Business Transfer Agreement (BTA) with Mawana Sugar Limited (MSL) to acquire its chlor-alkali plant known as Siel Chemical Complex (SCC) at Rajpura, Punjab.
Bodal stated that the proposed acquisition will help the Company in diversification of its existing chemicals product line by adding new products.
SCC is engaged in the manufacturing of Caustic soda, Hydrochloric Acid, Stable Bleaching Power, Sodium Hypochlorite, Hydrogen and Liquid Chlorine.
The acquisition of the Plant is expected to get completed in next two months’ subject to certain conditions set out in BTA.
“Bodal Chemicals Ltd will acquire a Chemical Plant as a going concern and not whole Company, hence, industry of target company is immaterial. The Proposed acquisition will help the company in diversification of its existing Chemicals product line by adding new products,” company said in a regulatory filing on Tuesday.