A Jindal poly film has acquired the Netherland - based company, AFP (Apeldoorn Flexible Packaging) for Rs 607cr (EUR 82.3 million) in an all cash deal, AFP is a leading player in load security films. By September 30, 2017 the company will close the acquisition.
Jindal’s access to new products segment and strengthen its relationship with brand owner in the food, beverage and FMCG segments, by expanding this acquisition.
The company is top line stood at Rs 7,293.93 Cr in FY17 and its revenue will be increased 11.21% through the acquisition itself. On the financial front, Apeldoorn has posted a revenue of EUR 111 million or Rs 818 Cr.
On BSE the Jindal poly films share price has increased 3.21% at Rs 418.2.
NSE+BSE 236332 shares were traded on the counter with at Rs 1774.23cr current market cap.
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