Hinduja Group May Acquire Houghton International

Hinduja Group is planning to acquire Houghton International and has placed a bid of $1.15 Bn.

Houghton International makes specialty chemicals, oils and lubricants for the metalworking, automotive, steel and other industries.

Deutsche Bank and Morgan Stanley were hired to advise on the sale process. AEA Investors LP, the investment firm that owns Houghton, could still decide to sell to another party or not at all, reports said.

In 2007, Houghton merged with an affiliate of AEA. Houghton India operates in India in the name of D.A.Stuart India Pvt. Ltd.

Hinduja Group has diversified business interests including banking, Automotives, ITes and others.
This March, Germany based energy major STEAG GmBH agreed to acquire 5% stake in Hinduja National Power Corporation Ltd (HNPCL) through its subsidiary STEAG Energy Services GmbH.

Besides, Hinduja group's power sector holding company Hinduja Energy India Ltd is forming JV with STEAG Energy Services (India) Pvt Ltd for operations and maintenance of various power projects in India.

In Dec 2011, Hinduja Group’s flagship company – Ashok Leyland Limited together with its associates has acquired additional 49% stake in UK based bus manufacturer - Optare Plc as a part of long term srategic cooperation.

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