Hinduja Ventures to acquire IDL Speciality Chemicals
Hinduja Ventures today said its board has approved the acquisition of pharma firm IDL Speciality Chemicals and also decided to enter into an MoU to that effect.
In a filing to the Bombay Stock Exchange the company said its board has given its in-principle approval to acquire all the shares of IDL Specialty Chemicals Ltd and to enter into a Memorandum of Understanding (MOU) to that effect.
Upon acquisition of the shares, pursuant to the above MOU, IDL Speciality Chemicals shall become a subsidiary of Hinduja Ventures, the filing added.
No further details regarding the acquisition were disclosed by the company.