Gulf Oil arm Houghton International to combine with Quaker Chemical

Hinduja Group, the owner of Gulf Oil International, to receive $172.5 mn in cash

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BS B2B Bureau Hyderabad

Last Updated : Apr 10 2017 | 12:54 PM IST

Houghton International, a subsidiary of the Hinduja Group’s Gulf Oil International, has entered into a definitive agreement to combine with Quaker Chemical to create a global leader in the space of process fluids, chemical specialties, and technical expertise to the global primary metals and metal working industries.

The Hinduja conglomerate will be the largest shareholder in the combined public company. GOCL Corporation Ltd, an Indian listed entity of the Hinduja Group, which owns 10 percent equity in Houghton International, through its UK based subsidiary, HGHL Holdings Limited UK (HGHL), will be entitled to approximately 2 percent in the combined entity.

The two

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