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RHI Magnesita to acquire DBRL's refractory business

Monday, 21 Nov 2022

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RHI Magnesita is in process of acquiring the refractory business of Dalmia Bharat Refractories (DBRL) for a consideration of Rs 1,708 crore.

The share swap deal is being made through RHI Magnesita India. DBRL will transfer its business to Dalmia OCL (DOCL).

Under the terms of a share swap agreement, RHI Magnesita will acquire all outstanding shares in DOCL in exchange for 27 million new shares in RHI Magnesita India.

Magnesita employs approximately 1,200 people in India and has an annual production capacity of over three lakh tonne refractory from five plants and raw material sites.

The acquisition will add production capacities in important industrial regions in the south and west region where RHI Magnesita currently had no assets.