Shiva Performance Materials Private Limited entered into a share purchase agreement to acquire 61.19% stake in INEOS Styrolution India Limited (BSE:506222) from INEOS Styrolution APAC for INR 6.5 billion on August 1, 2022. As per the deal, Shiva Performance Materials shall purchase 10.8 million shares in INEOS Styrolution for INR 600 per share. In a related transaction, Shiva Performance Materials Private Limited made an offer to acquire 26% stake in INEOS Styrolution India Limited (BSE:506222) for INR 3.9 billion on August 1, 2022. Post completion of the offer and agreement, Shiva Performance Materials shall hold 87.19% stake in INEOS Styrolution. Arindam Ghosh, Abhishek Dadoo, Anisha Chand, Shailendra Bhandare, Supratim Chakraborty and Hiten Kotak of Khaitan & Co. acted as legal advisor to INEOS group. EY is the tax advisor for INEOS Styrolution APAC PTE. LTD. and KPMG is the tax advisor for Shiva Performance Materials Private Limited. Cyril Amarchand Mangaldas acted as legal advisor to Shiva Group. Avendus acted as an advisor Shiva Performance Materials on its acquisition of a majority stake in INEOS Styrolution India

Shiva Performance Materials Private Limited completed the acquisition of 61.19% stake in INEOS Styrolution India Limited (BSE:506222) from INEOS Styrolution APAC on March 27, 2023.