National Peroxide Ltd (NPL) which is a part of the Wadia Group, has signed an agreement for buying the entire 25.1 percent stake from its JV partner Solvay SA in the company for an undisclosed amount.

NPL has said in a BSE filing that with this acquisition, NPL’s total stake will be increased to 70.5 percent from the current 45.4 percent. “The agreement dated March 28, 2017 was executed by Nusli N Wadia and Nowrosjee Wadia and Songs Ltd to acquire 14, 42,500 equity shares from Solvay SA.”

It further said that the company is still awaiting full details of the acquisition.

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