LANXESS AG, through its India-based subsidiary LANXESS India Private, Ltd., has acquired the chemical businesses and assets of Gwalior Chemical Industries, Ltd.

LANXESS is a Germany-based chemical company, while Gwalior Chemical is an India-based producer of specialty chemical products. LANXESS India is a manufacturer of leather chemicals and material protection products.

Announcement (June 8, 2009):

LANXESS, through its subsidiary LANXESS India, has entered into a definitive agreement to acquire the chemical businesses and assets of Gwalior Chemical for EUR82.4 million, including debt.

The acquisition will be financed through existing resources. The closing is expected at the end of the third quarter of 2009.

Rumor (January 28, 2009):

According to Reuters, LANXESS is planning to acquire Gwalior Chemical.

PricewaterhouseCoopers Corporate Finance, Inc. is acting as exclusive financial advisor and Wadia Ghandy & Co. as legal advisor to Gwalior Chemical on this transaction.

Deal Value (US$ Million) 115.14
Deal Type Acquisition
Sub-Category Asset Purchase
Deal Status Completed: 2009-09-01

Deal Participants

Target (Company) Gwalior Chemical Industries Limited - Chemical Businesses and Assets
Acquirer (Company) LANXESS India Private, Ltd.
Vendor (Company) Gwalior Chemical Industries Limited

Deal Rationale

The transaction would complement the portfolio of LANXESS' business unit Basic Chemicals

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