GMM Pfaudler Limited completed the acquisition of GMM International S.a.r.l. from Pfaudler International s.a.r.l. and Millars Concrete Technologies Pvt Limited.
September 28, 2022
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GMM Pfaudler Limited (BSE:505255) signed an agreement to acquire remaining 46% stake in GMM International S.a.r.l. from Pfaudler International s.a.r.l. and Millars Concrete Technologies Pvt Limited on August 4, 2022. Under the terms, Pfaudler International will sell 20% stake and Millars Concrete Technologies will sell 26% stake. GMM Pfaudler will acquire 25,188,128 ordinary equity shares GMM International for INR 136.48 each. GMM Pfaudler will pay a cash consideration of INR 1.5 billion to Pfaudler International, for the transfer of 10,951,360 shares in GMM International, a cash consideration of approximately INR 240 million to Millars Concrete Technologies for the transfer of 1,751,922 shares and issuance and allotment, of 1,104,724 equity shares of GMM Pfaudler having face at a price of INR 1,542.43 per equity share to Millars Concrete Technologies for the transfer of 12,484,846 shares in GMM International. INR 1,733,766,550 will be borrowed to make payments to Pfaudler International and Millars Concrete Technologies.
In the year ending on March 31, 2022, GMM International had a revenue of USD 230 million (INR 17.5 billion) and assets of USD 270 million (INR 20.2 billion). The transaction has been approved by the board of GMM Pfaudler Limited.
The transaction is subject to approval by shareholders of GMM Pfaudler, approval of Secretary of State for Business, Energy and Industrial Strategy, United Kingdom and BSE Limited and National Stock Exchange of India Limited for the allotment of shares. The transaction is expected to close on September 30, 2022. As of September 2, 2022, the transaction has been approved by the shareholders of GMM Pfaudler. As of September 21, 2022, GMM Pfaudler has received approval from the Secretary of State for Business, Energy and Industrial Strategy, United Kingdom (UK).
KPMG Valuation Services LLP acted as accountant, Axis Capital Limited acted as financial advisor, TriLegal Partners acted as legal advisor and Rathi Associates acted as advisor to GMM Pfaudler.
GMM Pfaudler Limited (BSE:505255) completed the acquisition of GMM International S.a.r.l. from Pfaudler International s.a.r.l. and Millars Concrete Technologies Pvt Limited on September 29, 2022. Thomas König, Alex Skelton, Katie Matthews, and Andreas Piepers of Shearman & Sterling LLP served as legal advisor to Deutsche Beteiligungs AG , parent of Pfaudler International s.a.r.l.
GMM Pfaudler Limited is an India-based company that is engaged in manufacturing of corrosion resistant glass-lined equipment used primarily in the chemical, pharmaceutical and allied industries. The Company also manufactures flouro-polymer products and other chemical process equipment such as agitated nutsche filters, filter driers, wiped film evaporators and mixing systems. The Company's segments include India and Overseas. It provides solutions for a myriad of applications, such as reaction, evaporation, acid recovery, distillation, filtration and drying. Its services include glass-lined technology, lab, and process glass, mixing technology, sealing technology, alloy process equipment, fluoropolymers, and membrane separation systems. The Companyâs manufacturing unit is located at Karamsad and Vatva, Gujarat and Hyderabad, Telangana It serves various industries, including chemical, pharmaceutical, food and beverage, and oil and gas. It has 16 manufacturing facilities.
GMM Pfaudler Limited completed the acquisition of GMM International S.a.r.l. from Pfaudler International s.a.r.l. and Millars Concrete Technologies Pvt Limited.
GMM PFAUDLER LIMITED 
