Frontier to buy B K Birla group co Kesoram

R Amin01 mins mins

<h2>Frontier</h2> <p> to buy B K Birla group co Kesoram” title=”<p>Representative image</p>” decoding=”async” fetchpriority=”high”/></p></div> </div> </div> </section> </div></div> </div> <p>Kolkata: 106-year-old Kesoram Industries, once the flagship of the B K Birla group, is being acquired by Frontier Warehousing, a city-based storage and logistics solutions company.<!-- --> The total value of the acquisition, as per stock exchange filings, would be close to Rs 100 crore.<span class=Frontier-owner Gautam Agarwal, told TOI he is drawing up plans for Kesoram, which now has transparent paper, rayon, and chemicals businesses.Frontier proposed to launch an open offer late on Thursday for the acquisition of 26% stake in Kesoram at Rs 5.5 per share, aggregating to a consideration of Rs 44.2 crore.

On Friday, Kesoram’s share on BSE was up 19%.

— Udit Prasanna Mukherjee

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