December 20 2017

Brenntag increases Footprint in India

Brenntag aquires Majority Stake in Raj Petro Specialties

Global chemical distributor Brenntag AG (Essen, Germany) earlier this week announced that the company has signed an agreement to enter into a 65/35 Joint Venture with Raj Petro Specialties Pvt. Ltd. (Mumbai and Chenai, India).  The company distributes its own branded blends of petroleum-based products like Transformer Oils, White Oils, Paraffins, Petroleum Jelly,  Process Oils, Waxes or Solvents to a range of customer industries in India and several other countries in Asia-Pacific, Africa and the Middle East. The product portfolio also comprises Automotive and Industrial Lubricants


The business is expected to generate total sales of approximately  EUR 180 mn in FY2017/18, which will end on 31. March 2018.  Brenntag said it will gain a majority share of 65% with this first trance to be closed in April next year. The remaining 35% will transfer in a second tranche after a period of five years, during which the business will be operate as a joint venture. An extension of this period by one to two years is possible, Brenntag said.


Closing of the transaction (tranche 1 / 65%) is expected to occur on 01. April 2018 , subject to contractually agreed closing conditions, Brenntag said. No financial details were disclosed on the transaction.


Source: Brenntag press release


HGE – DCG / 20.12.2017

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