Continental Petroleums to Acquire 24,999 Equity Shares of Unique Techno Associates for Rs 7,14,97,140

Continental Petroleums Limited has agreed to acquire 24,999 Equity shares of Unique Techno Associates Private Limited, a manufacturing company of lubricants & greases, for a cash consideration of Rs 7,14,97,140. This acquisition will increase the company’s manufacturing capability and expand its export market, with both top and bottom line contributions. After the share swap and this acquisition, the company will hold 88.20% of the target entity. Unique Techno Associates Private Limited is an export-focused manufacturing company with a unit based in DAHI SEZ, Gujarat, and a turnover of Rs 5.42 Crores in 2023-24. The acquisition is expected to be completed within 15 days.