Gravita India Ltd. Subsidiary to Acquire Rubber Recycling Plant in Romania for Approx. Rs. 40 Cr.
Gravita India Limited, a leading recycling company, announced that its step-down subsidiary, Gravita Netherlands BV (GNBV), has executed a Memorandum of Understanding (MOU) to acquire a waste tyre recycling plant in Romania. The plant, which has a capacity of approximately 17,000 MTPA, will be Gravita’s first recycling facility in Europe. GNBV will hold 80% equity in the separate SPV formed in Romania for this transaction, with the remaining 20% held by other partners based in Romania. The total investment for this acquisition is approximately Rs. 40 Cr., with GNBV contributing approximately Rs. 32 Cr. after financial, environmental, and legal due diligence. This acquisition aligns with Gravita's vision of diversification and expansion in different geographies.
Key Highlights
- Gravita Netherlands BV (GNBV) to acquire a waste tyre recycling plant in Romania.
- The plant has a capacity of approximately 17,000 MTPA and will be Gravita’s first recycling facility in Europe.
- GNBV will hold 80% equity in the separate SPV formed in Romania for this transaction.
- Total investment for this acquisition is approximately Rs. 40 Cr., with GNBV contributing approximately Rs. 32 Cr.
- This acquisition aligns with Gravita's vision of diversification and expansion in different geographies.