The board of Apar Industries in its meeting on 17 August 2012 has approved the acquisition of 3,214,444 equity shares of Rs 10 each (47.50%) in the joint venture company, Apar Chematek Lubricants (ACLL), an unlisted company.
Upon completion of the transaction, the shareholding of the company in ACLL will increase to 97.50% from the present 50% and ACLL shall become subsidiary of the company.