Haldia Petrochemicals Limited (HPL), a flagship company of The Chatterjee Group (TCG) having its manufacturing facility at Haldia, West Bengal, along with an international partner Rhone Capital, has acquired the US based Lummus Technology at an Enterprise Value (EV) of $ 2.725 Billion (approximately Rs. 20,590 crores) from McDermott International on the 30th of June, 2020.
With a heritage spanning 110 years, Lummus Technology is a leading master licensor of proprietary technologies in refining, petrochemicals, gas processing and coal gasification sectors, as well as a supplier of proprietary catalysts, equipment and related engineering services. Lummus Technology has around 130 licensed technologies and more than 3400 patents and trademarks.
The Chatterjee Group (TCG), with its Head Quarters in USA, has controlling stake in Haldia Petrochemicals Limited. The Group has an impressive track record as a strategic investor, with businesses spanning many sectors across geographies. Founded by Dr. Purnendu Chatterjee in mid 1980s, the Group has all along had overriding focus on investments in 'knowledge based industries'. TCG owns and controls companies as 'long-term investments' in the following sectors: Petrochemicals, Pharmaceuticals, Biotech, Financial Services, Real Estate and Technology, serving global markets.
Rhone Capital, established in 1996, having offices in London and New York, is a global private equity firm, which specializes in investments in market leading businesses and has a pan-European and trans-Atlantic presence. The Company has stake in a diversified portfolio of companies in chemicals, consumer products, food, industrial materials, mining and shipping industries.