Solar Industries arm to acquire South Africa’s Omnia Holdings for Rs 12,951 crore

Mumbai (Maharashtra) [India], September 14 (ANI): Solar SA Investments Proprietary Limited, a wholly owned step-down subsidiary of Solar Industries India Limited (Solar Group), will acquire all outstanding shares of South Africa-based Omnia Holdings Limited (Omnia) in an all-cash transaction for approximately USD 1.355 billion (Rs 12,951 crore), the companies said in an official statement.

The transaction is subject to customary closing conditions, including required regulatory approvals and approval from Omnia shareholders, the statement said.

Headquartered in South Africa and listed on the Johannesburg Stock Exchange, Omnia has a 73-year heritage and operates across the mining and agriculture sectors.