India's HLE Glascoat jumps 19% on Thaletec acquisition

HLE Glascoat

20/09/2021 09:12

** Shares of process equipment maker  HLEG.NS  rise as much
as 19.13% to 6,165 rupees, their highest since listing in
February
    ** Co on Friday said it will acquire global business of
Thaletec GmbH, Germany, and Thaletec U.S for 12 million euros 
($14.05 mln)  urn:newsml:reuters.com:*:nFWN2QJ0FE
    ** HLEG said both companies have agreed to Thaletec
remaining a separate business entity after acquisition
    ** Acquisition to help HLEG expand footprint globally
    ** HLEG makes process equipment for chemical and
pharmaceutical industries, while Thaletec makes specialized
glass-lined process equipment and reactors
    ** About 113,961 HLEG shares change hands vs 30-day avg of
29,965
    ** Shares have more than tripled since listing this year

($1 = 0.8541 euros)

 (Reporting by Nallur Sethuraman in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (Within U.S.
1-646-223-8780, Outside U.S. +91 8067496031); Reuters Messaging:
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