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Building materials firm HIL Ltd (formerly Hyderabad Industries Ltd) will be acquiring Parador Holdings GmbH, Germany. The enterprise value of Parador Holdings GmbH is Rs 687.2 crore. The board of directors of the Hyderabad-based HIL has approved the transactions, the company informed the Bombay Stock Exchange.
As part the transaction, 100 per cent stake i.e 100,000 shares of a face value of Euro 1 each in Parador Holdings will be acquired from the existing shareholders through HIL’s wholly-owned subsidiary, proposed to be incorporated as HIL International GmbH, Germany, it added. Parador is manufacturer of a range of products for designing floors and walls.
In an interaction with BusinessLine earlier, Dhirup Roy Choudhary, MD & CEO, HIL said: “As our balance-sheet is clean with zero debt, we do have an appetite for buys.’’
HIL is also planning to raise up to Rs 1,000 crore through borrowings. HIL is a leading player in asbestos cement sheet (ACS) for roofing, from which it derives 70 per cent of its revenue at present. Its total revenue in FY17 was Rs 1,078 crore, with a net profit of Rs 54 crore.
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