Bilcare to buy INEOS' global films for Rs 607 cr
Bilcare AG, the German unit of Bilcare Ltd, has agreed to buy INEOS group’s global polymer films business for Rs 607 crore.
The deal comprises INEOS’s polymer films operations located in North America, Europe and Asia with annual sales of Rs 1,458 crore, Bilcare said in a statement to stock exchanges.
The transaction is expected to be completed at the end of August, subject to necessary regulatory filings and approvals, the company said.At 2:34 pm IST, Bilcare shares were trading up 13.77 per cent at Rs 507.65 on Monday on the Bombay Stock Exchange (BSE) following the news.