Brilloca Limited acquired Building Products Manufacturing Undertaking from HSIL Limited from AGI Greenpac Limited for INR 6.3 billion.
March 31, 2022
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Brilloca Limited agreed to acquire Building Products Manufacturing Undertaking from HSIL Limited (BSE:500187) from AGI Greenpac Limited (BSE:500187) for INR 6.3 billion on January 15, 2022. For the year ended March 31, 2021, the BPD undertaking of HSIL reported INR 5.9 billion in revenues. The transaction has been approved by Board of Directors of both Brilloca & HSIL, approved by the audit committee of HSIL and is subject to approval of the shareholders of Brilloca & HSIL, lenders approval and in accordance with the other provisions of the business transfer agreement to be executed between HSIL and Brilloca. The transaction is expected to close by March 31, 2022. Ernst & Young LLP acted as financial advisor and AZB & Partners acted as legal advisor to Brilloca.
Brilloca Limited competed the acquisition of Building Products Manufacturing Undertaking from HSIL Limited (BSE:500187) from AGI Greenpac Limited (BSE:500187) on March 31, 2022.
AGI Greenpac Limited is an India-based packaging products company. The Company's business segments include Packaging Product Division, Investment Property and Others. The Packaging Product Division segment is engaged in the manufacturing and marketing of various packaging products, including containers and specialty glass, polyethylene terephthalate (PET) bottles and products, and security caps and closures. The Investment Property segment consists of land and buildings owned by the Company and given on lease. The Others segment includes wind power generation and other activities. It manufactures glass containers and specialty glass under the brand AGI Glaspac. The Company conducts PET bottles and products business under the brand, AGI Plastek. It is engaged in the production of security caps and closures under the brand, AGI Clozures. It serves various industries such as food, pharmaceuticals, soft drinks, alco-beverages, personal care, agro-chemicals and dairy industry.