HPL acquires majority stake in Lummus Technology for enterprise value of $2.725 billion

Date posted: Saturday 4 July 2020

The Chatterjee Group (TCG) flagship Haldia Petrochemicals and global private equity firm Rhone Capital said they have jointly acquired US-based Lummus Technology from McDermott International for an enterprise value of $2.725 billion (about Rs 20,590 crore).A mix of debt and equity infusion from State Bank of India and HPL funded about 57% of the all-cash deal, with the rest coming from the PE firm.

(Economic Times)