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Hindusthan Glass acquires Agenda Glas

Kolkata-based Hindusthan National Glass & Industries Limited (HNG) has acquired Germany-based Agenda Glas, AG for about EUR 50 million (INR 321 million), through its unit HNG Global GmbH.
The company…

Kolkata-based Hindusthan National Glass & Industries Limited (HNG) has acquired Germany-based Agenda Glas, AG for about EUR 50 million (INR 321 million), through its unit HNG Global GmbH. The company has signed a pact with Germany“s Insolvency Administrator to buy the assets of Agenda Glas. Agenda Glas had filed for bankruptcy in February 2011. The acquisition will be funded through a mix of debt and equity. The completed deal will enable HNG to enter into the container glass manufacturing segment in the international market.

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