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Ruchi Soya may buy Sical Logistics' palm oil biz
The Ruchi Soya Group is close to buying the palm oil business of Sical Logistics, reports CNBC-TV18. As per sources close to the development, Ruchi Soya is all set to buy out the palm oil business of Sical Logistics at an enterprise value pegged at around $10-12 million.
The Ruchi Soya group is close to acquiring the palm oil business of Sical Logistics , reports CNBC-TV18.
As per sources close to the development, Ruchi Soya is all set to buy out the palm oil business of Sical Logistics at an enterprise value pegged at around $10-12 million. The sole advisor to the deal are the Mumbai-based Singhi Advisors. Singhi Advisors believe that the acquisition is a strategic fit for an integrated approach towards the business. The management of Ruchi Soya was however unavaiable for comments.
The Board of Sical Logistics has approved hiving off the company's non-core businesses. In addition to the palm oil business, the company's non-core businesses include refractory, auto and the like, as well as the drums and agri-bio products ones. The specialty chemicals and the flexible shafts businesses too are among the non-core businesses that the company wants to hive off. However, the Sical Logistics management could also not be reached for comments.
CNBC-TV18 DISCLAIMER: This information has not been provided to the stock exchanges, and is source-based
As per sources close to the development, Ruchi Soya is all set to buy out the palm oil business of Sical Logistics at an enterprise value pegged at around $10-12 million. The sole advisor to the deal are the Mumbai-based Singhi Advisors. Singhi Advisors believe that the acquisition is a strategic fit for an integrated approach towards the business. The management of Ruchi Soya was however unavaiable for comments. 
