Briefs: Dhanuka Agritech and Pidilite Industries
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Briefs: Dhanuka Agritech and Pidilite Industries

Dhanuka Agritech signs non-binding LoI with Kimitec Group

  • By ICN Bureau | January 28, 2024

Dhanuka Agritech signs non-binding LoI with Kimitec Group

Dhanuka Agritech Limited has signed a non-binding Letter of Intent (LoI) with an overseas entity named Kimitec Group, Spain for exploring the various business opportunities including setting up of joint venture in India which is subject to signing of definitive agreement(s) and fulfillment of other terms and conditions.

Pidilite Industries changes shareholding of ICA

Pidilite Industries Limited had entered into a Shareholders Agreement dated 25th April,2016 with Industria Chimica Adriatica S.P.A., (ICA SPA) and others as the Joint Venture Partners to form a Joint Venture Company in the name of ICA Pidilite Pvt. Ltd., (Joint Venture Company) which was intimated to the Stock Exchange on 25th April, 2016.

There is a change in the shareholding of ICA SPA. Consequently, the existing Shareholders Agreement, which was earlier entered into as mentioned above, is amended. ICA SPA continues to be the party to the Shareholders Agreement. The management control of the Joint Venture Company remains with the Company and there shall be no major change in the Shareholders Agreement. As such there is no material impact on the Company due to the above change.

The Amendment and Supplemental Shareholders Agreement was executed on 24th January, 2024 by the shareholders of the Joint Venture Company.


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