India’s Competition Commission has approved the acquisition of Raj Petro Specialities by Germany’s chemical distribution company Brenntag AG.
According to a notice submitted with CCI, the proposed transaction involves the acquisition of 100% of the total issued, paid-up and subscribed equity share capital of Raj Petro by Brenntag in two tranches.
In the first tranche, Brenntag AG, through its indirect subsidiary Brenntag (Holding) BV, will acquire equity shares, representing 65% of the total issued, paid-up and subscribed equity share capital of Raj Petro. The remaining 35% will be picked up in the second tranche.
Brenntag (Holding) BV is part of the Brenntag Group, which is active in the distribution of industrial and specialty chemicals. Raj Petro Specialities is a manufacturer, distributor and exporter of a range of petroleum specialty products and lubricants, among others.