Grasim Industries To Acquire Chlor-Alkali Business Of KPR Industries
Grasim Industries Limited (Grasim) signed a definitive agreement to acquire the Chlor-Alkali Business ("CAB") of K.P.R. Industries (India) Limited ("KPR") by way of a slump sale, for a cash consideration of Rs.253 crore. The transaction will be funded through internal accruals. KPR would in turn utilize Rs.253 crore towards a full and final settlement of the lenders' dues under a One-Time Settlement. The transaction is subject to regulatory approvals.
The Business consists of an under-construction 200 TPD Chlor-Alkali project at Balabhadrapuram, Andhra Pradesh. Grasim would take over the assets and identified liabilities associated with the Chlor-Alkali Business.