<\/p>\n
Solar Industries India agreed to acquire South African industrial-explosives and fertiliser firm Omnia Holdings for R21.8 billion, seeking to expand in the continent\u2019s mining and agriculture industries.<\/p>\n
The Nagpur, India-based company offered R134.5 per share, a 14.3% premium to Friday\u2019s closing price. Omnia surged 15% in Johannesburg on Friday, giving the company a market value of R19.1 billion.<\/p>\n
Read: Omnia declares special dividend despite a disruptive year<\/p>\n
For Solar Industries, led by billionaire Satyanarayan Nuwal, the acquisition will be its latest in South Africa, where it controls Problast BS. The purchase will help the Indian firm expand across southern Africa and get access to Omnia\u2019s facilities in Canada, Brazil, Australia and Indonesia, said Omnia chief executive officer Seelan Gobalsamy.<\/p>\n
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Read: Omnia in advanced talks over potential buyout of all its ordinary shares<\/p>\n
\u201cThe deal is about growth,\u201d Gobalsamy said in an interview on Monday. \u201cIt\u2019s about accelerating growth to put balance sheets together.\u201d<\/p>\n
Shares of Solar have surged more than 80% this year, valuing the firm at 2.02 trillion rupees.<\/p>\n
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Read the Sens here.<\/p>\n
Solar already has operations in Ghana, Nigeria, Tanzania and Zambia. Buying Johannesburg-based Omnia gives it access to South Africa, which is home to the world\u2019s biggest platinum mines, is the continent\u2019s biggest corn grower and the largest global exporter of citrus.<\/p>\n
Omnia\u2019s earnings climbed 21% in the year through March, with operating profit roughly split between its mining and agricultural units.<\/p>\n
\u00a9 2026 Bloomberg<\/p>\n
#Omnia #receives #R21.8bn #buyout #bid #Solar #Industries<\/p>\n","protected":false},"excerpt":{"rendered":"
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