Mumbai-based conglomerate, Artek Group, has successfully acquired the oil and gas business of Kemira, a leading Finnish chemicals company, in a deal valued at $280 million, as per company reports. This significant acquisition marks Artek Group's strategic foray into the global energy sector, extending its business footprint beyond India.
1. Artek Group, a Mumbai-based conglomerate, has acquired the oil and gas business of Finnish chemicals company Kemira for $280 million.
2. The acquisition marks Artek Group's strategic entrance into the global energy sector and expands its business footprint beyond India.
3. With this deal, Artek has reaffirmed its position as a major global player in the chemicals sector.
4. The acquisition enables Artek to expand its overseas portfolio and penetrate the highly competitive Scandinavian market.
5. It also provides Artek with an opportunity to utilize Kemira's advanced technologies and expertise in its own operations.
The Artek Group's acquisition of Kemira's oil and gas business is valued at $280 million.
The Artek Group, a Mumbai-based conglomerate, has emerged as the new owner of Kemira's oil and gas business in a whopping $280 million deal, reaffirming its position as a major global player in the chemicals sector. This acquisition allows the conglomerate to expand its overseas portfolio, as well as to penetrate the highly competitive Scandinavian market. Moreover, it provides Artek with a golden opportunity to utilize Kemira's advanced technologies and expertise in its own operations.