Pidilite Industries advances 5% on acquisition of Huntsman Group arm

Shares of Pidilite Industries rose 5 per cent to Rs 1,595 on the BSE on Thursday after the company said it has acquired the consumer & bazaar business of Araldite in Indian sub-continent. This is for a cash consideration of approx. Rs 2,100 crore, it said.

“The board of the company approved a definitive agreement with Huntsman Group (USA) for acquiring 100 per cent stake in one of their subsidiaries in India namely, Huntsman Advanced Materials Solutions Private Limited (HAMSPL),” Pidilite Industries said in a press release today.

HAMSPL manufactures and sells adhesives, sealants and other products under