Foseco India to Acquire VIL's Mehsana Facility for ₹43.25 Cr
Foseco India Limited announced its Board of Directors has approved the acquisition of Vesuvius India Limited's (VIL) Mehsana Facility through a slump sale for ₹43.25 crore. The facility, located in Gujarat, manufactures crucibles, stoppers, and sleeves for the non-ferrous industrial sector. This acquisition is a related party transaction as both companies are part of the Vesuvius group. The deal aims to strengthen Foseco India's business by increasing scale, expanding its customer base, and enhancing operational coverage, building upon its recent acquisition of Morganite Crucible (India) Limited. The transaction has been approved by the Audit Committee and is conducted on an arm's length basis, supported by an independent valuation report.
Key Highlights
- Foseco India to acquire VIL's Mehsana manufacturing facility.
- Acquisition value set at ₹43.25 crore via slump sale.
- Deal strengthens Foseco's business scale and product portfolio.
- Transaction is a related party deal within the Vesuvius group.
- Acquisition approved by Audit Committee and based on valuation report.
Price Impact
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