UPL acquires 100% stake in Kudos Chemie
Through its newly incorporated subsidiary - UPL Speciality Chemicals
UPL has incorporated a wholly owned subsidiary in the name of UPL Speciality Chemicals (USCL) which has acquired 100% holding in Kudos Chemie. Accordingly Kudos becomes a step down wholly owned subsidiary of the Company.USCL acquired 4 crore equity shares of Rs.10/- each of Kudos for total consideration of Rs.40 crore.
As per the resolution plan approved by NCLT, the Company is required to invest Rs.237 crore in Kudos over a period of 2 years.
Kudos acquisition helps UPL to offer various value-added products to its customers having synergy with its existing business.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
Buzzing :
Greece in crisisTravel & Budget & EuropeSaaS $ Email MarketingHarnautBlacklisting Policy 2Question Paper Leak 2A big moment for small armsAI in Financial Markets: How Technology is Changing Investing'India's size and diversity make it a powerful innovation engine'Datanomics: Housing, gold loans drive household debt to a decade highSamrat ChoudharyEl Nino
Don't miss the most important news and views of the day. Get them on our Telegram channel
First Published: Jun 15 2022 | 4:40 PM IST