ICIG, a privately-owned industrial group with sales in excess of €4.6 billion, has announced that it acquired a majority stake in Vasant Chemicals, a Hyderabad-based specialty chemicals and pharma intermediates company. The target company would be integrated into the WeylChem Group, the fine chemicals platform of ICIG. Vasant Chemicals has manufacturing facilities in Hyderabad (Jeedimetla) and Visakhapatnam (Atchutapuram). Ambit Pvt Ltd acted as the exclusive financial advisor to Vasant Chemicals for this transaction. PricewaterhouseCoopers GmbH Wirtschaftsprüfungsgesellschaft and Deloitte Touche Tohmatsu India LLP acted as the financial due diligence advisors to ICIG and Vasant Chemicals, respectively.

Source: The Hindu March 06, 2024 01:46 UTC