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Mergers & Acquisitions | 7 May 2012

RHI Group May Acquire Orient Refractories

by Charmi Gutka
RHI Group May Acquire Orient Refractories
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Germany based RHI Group is planning to acquire Orient Refractories for R600Cr. Orient Abrasives recently demerged its refractory division into Orient Refractories with the intention of selling a stake.

According to ET, RHI has agreed to buy 48.61% of the stake held by promoters Rajendra Kumar Rafgarhia and family for about R300Cr. It will also make a mandatory open offer for a 26% stake as per takeover regulations.

Established in 1971, Orient Abrasive is a part of Rajgarhia Group of Industries. Orient Abrasive is engaged in manufacturing various types of high-alumina abrasive grains (including calcined bauxite), Refractories, Monolithic and Power.

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