Ion Exchange (India) Ltd (“Company”) will takeover a Target company namely – MAPRIL – Produtos Químicos e Maquinas Para a Industria, Lda which is located in Portugal. The Company shall invest approximately INR 24 crores (subject to closing adjustments) and acquire 11,11,500 equity shares equivalent to 100% of the issued and paid-up equity capital of MAPRIL – Produtos Químicos e Maquinas Para a Industria, Lda as per the Share Purchase Agreement to be executed.
This acquisition will give the Company a strong footing in European market. Mapril achieved revenues of Euro 10.62 Mn for the 12-month period ending 31 December 2022.
The exact cost of acquisition is 2,662,252 Euros subject to closing adjustments.
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