Acquisitions15 Feb 2026, 03:49 am
GP Petroleums to Acquire Specialty Bitumen Manufacturing Plant for up to Rs. 14.75 Crores
AI Summary
GP Petroleums Ltd. has approved the acquisition of a specialty bitumen manufacturing plant located at GIDC Road, Manjusar, Savli, Vadodara, Gujarat from New Horizons Asphalt Private Limited. The proposed consideration for the said manufacturing plant should not exceed Rs. 14.75 Crores. The transaction is a one-time purchase and does not create any ongoing management or control rights in favour of either party. The definitive agreement for the aforesaid purchase of the plant is currently under finalization and is in the process of being execution.
Key Highlights
- Acquisition of a specialty bitumen manufacturing plant from a related party
- Proposed consideration not to exceed Rs. 14.75 Crores
- Outright purchase of land, building, and plant & machinery
- Consideration determined based on the recommendation of the audit committee and independent valuation
- The transaction is a one-time purchase and does not create any ongoing management or control rights