MUMBAI (Commodity Online) : Hindusthan National Glass & Industries Ltd (BSE: HINDNATG : 515145, NSE: HINDNATGLS), on Wednesday, announced it has signed the agreement (SPA) to purchase the assets of Agenda Glas AG, Gardelegen, Germany for a sum of 50 million Euros or Rs.321 crores.
Through the acquisition, the company aims to become one of the top 15 glass packaging companies globally. Hindustan National Glass is reportedly having 55% market share in the Indian glass packaging segment.
Agenda Glass went into bankruptcy proceedings in February 2011 and the agreement was signed subsequent to an international bidding process.
The scrip of Hindusthan National Glass was trading at Rs.220 up by 4.29% on BSE on Thursday afternoon.
