Corporate News     22-Apr-23
Dalmia OCL to acquire balance 49% stake in RHIM Seven
For a cash consideration of Rs 64 crore
Dalmia OCL, the wholly owned subsidiary of RHI Magnesita India, has executed a Share Purchase Agreement (SPA) with Seven Refractories GMBH, Vienna vide agreement dated 21 April 2023 for acquisition of the balance 49% paid up equity shares of RHIM Seven (formerly known as Dalmia Seven Refractories) for cash consideration of Rs.64 crore.

DOCL already owns 51% paid up equity shares of RHIM Seven and will own 100% paid up equity shares of RHIM Seven following completion of the acquisition. The acquisition is subject to standard closing conditions and is expected to complete in the second half of 2023.

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