/ HIL gets nod to acquire 100% stake in Parador Holdings GmbH ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Thursday, 12 July 2018

HIL has received an approval to acquire 100% stake i.e 100,000 shares of a face value of Euro 1 each in Parador Holdings GmbH, Germany from the existing shareholders through company's Wholly Owned Subsidiary proposed to be incorporated in the name and style HIL International GmbH, Germany. The enterprise value of Parador Holdings GmbH is EUR 82.8 million (Rs 687.2 crore converted at 1 Euro=Rs 83). The Board of directors of the company at their meeting held on July 11, 2018, approved the same.

The Board has also given approval to enter into a Sale and Purchase Agreement (SPA) with the existing shareholders of Parador Holdings Gmbh for the said acquisition and authorized Dhirup Roy Choudhary, Managing Director & CEO of the Company, and Managing Director of HIL International GmbH (WOS), to execute the Sale and Purchase Agreement.

HIL is a leading player in asbestos cement sheet (ACS) for roofing, from which it derives 70 per cent of its revenue at present.

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