RHI Magnesita India announced that the company is desirous of executing a share swap agreement (SSA) with Dalmia Bharat Refractories (DBRL) to acquire 8,24,83,642 of equity shares, each fully paid up, having a face value of Rs 10, representing 100% of the
equity share capital of Dalmia OCL (DOCL).
Under the terms of the Share Swap Agreement, the Company will acquire all outstanding shares in DOCL in exchange for 2,70,00,000 new shares (vide preferential allotment) in the Company (Transaction) on such terms and conditions as may be mutually agreed between the parties. Based on the issuance price of the Company at Rs 632.5029 per share, the Share consideration has a value of approximately Rs 1,708 crore. The Company will consolidate DOCL's earnings and approximately Rs 443 crores of net debt held by DOCL.
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