Close Menu
    Quick Access
    • Bigg-Boss
    • Entertainment
    • High Life
    • Infotainment
    • News
      • Business
      • Sports
      • Technology
    • News Wire
    • Photo Gallery
    • Stars-Wiki
    • Trending
    • Videos
    • World
    Facebook X (Twitter) Instagram
    • About
    • Contribute
    • Intern
    • Advertise
    • Download the App
    • Contact Us
    Facebook X (Twitter) Pinterest
    PagalParrotPagalParrot
    • Entertainment
    • Infotainment
    • News
      • Sports
      • Business
      • Technology
      • World
    • High Life
    • Trending
    • Videos
    PagalParrotPagalParrot
    Home » News » Business » Reliance is set to acquire stakes in Lotus Chocolate
    Business

    Reliance is set to acquire stakes in Lotus Chocolate

    SnehaBy SnehaDecember 29, 20222 Mins Read
    Share Facebook Twitter Pinterest LinkedIn Tumblr Reddit Telegram Email
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Reliance Consumer Products Ltd, the fast-moving consumer goods counterpart Reliance Industries Ltd, is set to acquire a controlling stake in Lotus Chocolate, stated a regulatory filing.

    Reliance Consumer Products Ltd (RCPL) has signed an agreement with the promoters of Lotus Chocolate, which deals in chocolates, cocoa products and cocoa products.

    In accordance with the agreement of the purchase of shares, RCPL aims to acquire 77 per cent of the paid-up share capital of Lotus Chocolate. This is done through a “secondary purchase” from the promoters Prakash Peraje Pai and Ananth Peraje Pai, after the mentioned open offer.

    In the regulatory filing, Lotus Chocolate averred that a shareholders agreement (SHA) has been implemented between RCPL and the group of promoters including Prakash Peraje Pai, Ananth Peraje Pai, Poornima Pai, Nivedita Pai, Ashwini Pai, Abhijeet Pai, Aman Paiand and Aditya Pai.

    As per the stated SPA, Prakash Peraje Pai and Ananth Peraje Pai had proposed to sell off the equity shares of the company to RCPL. Both of them had jointly acquire 57 per cent stake in Lotus Chocolate, as of September 2022 end.

    “The transaction contemplated under the SPA and SHA has also triggered an obligation on RCPL to make an open offer to the public shareholders of the Company…,” the notice said.

    Reliance
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Previous ArticleVicky Kaushal and Katrina Kaif hounded at Mumbai airport by fans, watch here
    Next Article MEA says Pakistan should take care of their minorities
    Sneha
    Sneha

    Inhouse writer at pagalparrot.com. I love writing about various topics that interests the new age readers.

    Next Up For You

    Business

    8 Factors that Impact Car Insurance Premium Rate

    November 18, 2024
    Business

    Best Stocks Apps for Tracking Global Market

    October 26, 2024
    Business

    Putin praises Bollywood’s popularity in Russia and seeks collaboration

    October 20, 2024
    Business

    A Comprehensive Guide to Bajaj Finance FD: Using Fixed Deposit Calculators to Save Money

    August 26, 2024
    gold trade image in hd
    Business

    Gold Price Trades on a Negative Note: Eyes on Fedspeak

    May 31, 2024
    Business

    PMP Certification Requirements: Eligibility Criteria and Application Process

    February 14, 2024
    Facebook X (Twitter) Pinterest RSS
    • About
    • Contact Us
    • Download Mobile App
    • Advertise
    © 2025 PagalParrot Media.

    Type above and press Enter to search. Press Esc to cancel.