Manali Petrochemicals completes acquisition of Penn Globe Ltd

Manali Petrochemicals Ltd, an integrated manufacturer of polyols, has ‘closed the acquisition’ of United Kingdom-based Penn Globe Ltd, a market leader in foam control agents, for an enterprise value of GBP 21 million, the city-headquartered company said on Wednesday. The “all-in” acquisition was transacted through AMCHEM Speciality Chemicals Private Limited, Singapore, the company said in a statement.