Hatsun Agro Product has further completed the acquisition of 56,421 equity shares of Rs. 10/- each of Milk Mantra Dairy (the target company) from the shareholders of the target company by discharging the Gross Purchase Consideration of Rs. 1.68 crore to all the concerned shareholders of the target company, in the manner as specified in the SPA.
Till Date Hatsun Agro Product has purchased 30,72,933 equity shares of Rs. 10/- each and 16,06,372 compulsorily convertible preference shares of Rs. 10/- each of the target company by discharging the purchase consideration of Rs. 231.08 crore cumulatively.
This acquisition together with the earlier acquisition represents 97.98% of the current issued and paid-up equity and preference share capital of the target company.
This strategic acquisition aligns with Hatsun Agro Product’s long-term vision of expanding its footprint in the dairy industry. Milk Mantra Dairy, known for its innovative products and strong regional presence, will further strengthen Hatsun’s portfolio and provide access to a larger consumer base across multiple markets.
Moreover, the integration of Milk Mantra Dairy’s operations is expected to create synergies in production, distribution, and innovation. Hatsun Agro Product plans to leverage its existing infrastructure and expertise to enhance operational efficiency and introduce new dairy offerings that cater to diverse customer needs.
Information provided by Business Standard and information added by eDairy News.
