Third largest manufacturer of carbon black US-based Columbian Chemicals Company fell into the hands of Aditya Birla Group. The deal size is expected to be around $900 million (Rs 4100 crore).
Sources reveal that Kumar Mangalam Birla, controller of Aditya Birla Group will close the deal as early as next week. JP Morgan is advisor to the deal.
For acquisition of funds Aditya Birla Group is talking with several banks including Deutsche Bank, Royal Bank of Scotland and other foreign banks.
It is expected that Aditya Birla group will pay USD 800 million in cash for the deal.
Tags: India Share market, India Shares
The Aditya Birla Group is aiming to double its turnover to $65 billion in the next financial year, said the group chairman Kumar Mangalam Birla.
Financial services provider, Aditya Birla Financial Services today announced that it has proposed to acquire 75 per cent stake in Aditya Birla Money through an off market transaction.
The Aditya Birla Group has been planning to separately run the financial services business, which was being operated under the group company AB Nuvo. 
