Swan Energy to acquire 75% stake in Veritas India for Rs 260.35 crore

Swan Energy (SEL) said on Sunday it intends to acquire a stake of more than 75% in Veritas (India), a petrochemicals and petroleum products manufacturing company, for Rs 260.35 crore.

The Mumbai-based firm has already acquired a 55% stake in Veritas for Rs 172.52 crore. It will acquire an additional 26% from public shareholders through an offer priced at Rs 126 per share, totalling to Rs 87.83 crore, SEL said in a regulatory update.