SH Kelkar completes 62% stake acquisition in Holland Aromatics

27 Jan 2022 , 12:15 PM

SH Kelkar and Company Limited through its wholly-owned subsidiary – Keva Europe B.V. – has completed the acquisition of a 62% equity stake in Holland Aromatics B.V. on Tuesday. The remaining stake (38%) shall be acquired in two tranches in a span of two years, consideration for which would be linked to the performance of Holland Aromatics B.V.

The company through Keva had entered into an agreement on December 14, 2021, to acquire a 100% stake in Holland Aromatics B.V. (Holland Aromatics). The acquisition is being done by acquiring a 100% stake of Provier Beheer B.V., holding company of Holland Aromatics domiciled in the Netherlands.

At around 12.18 PM, SH Kelkar & Company Ltd was trading at Rs157.55 per share down by Rs1.15 or 0.72% from its previous closing of Rs158.70 per share on the BSE.

The scrip opened at Rs157.85 and has touched a high and low of Rs160.50 and Rs155 respectively.