Global major EUR 5 Bn Imerys (France) group' company in Indiato acquire HYSIL business of HIL Limited

• Definitive agreements have been signed between Calderys India Refractories Limited, Imerys' wholly owned Indian subsidiary, and HIL Limited, a company listed on BSE and NSE, to acquire on a slump sale bases the Thermal Insulation (HYSIL) business of HIL.
• Transaction wouldsupportCalderys'presence in India through a vertically backwardintegration in theThermal Insulation Industry.
• Transaction would be a part of HIL's strategy to divest theirnon-core assets and focus on theircore Building Materials business.
• Investment Banking firmSinghi Advisorswasthe exclusive Strategic&FinancialAdvisor to Imerys Indiafor this transaction.

Friday, 17 January 2020| France-basedImerys Group, world leader in mineral-based specialities, has through its wholly owned subsidiary, Calderys India Refractories Limited, signed definitive agreements to acquire the Thermal Insulation (HYSIL) business from HIL Limited on a slump sale basis.

~EUR 5 Bn Imerys Group is the world leader in mineral-based specialities with presence in more than 50 countries and employs more than17,800 people.Imerys delivers high value-added, functional solutions to a great number of industries, ranging from process manufacturing to consumer goods.

With 100 plus years' experience in refractories, Calderys,a wholly owned subsidiary of Imerys group, is a network of industry-leading experts working in close collaboration with customers to provide personalised refractory solutions.Addition of HYSIL products to their range will help the company serve their customers better by directly supplying Calcium Silicate Thermal Insulation products.

Mr. Ish Mohan Garg, Imerys India Chairman & South West Asia Vice President said, "Imerys and Calderys are very excited to have HYSIL as part of our family. It is a natural strategic extension of our existing refractory product portfolio. We will grow this business and take it to newer heights."

HIL Limited is a flagship company of the US $2 Bn C K Birla Group. HIL, being World's largest manufacturer and seller of fibre cement roofing, offers comprehensive building solutions. The company has five major brands viz. Charminar, Birla Aerocon, Charminar Fortune, Birla HIL and Parador and has 20state-of-the-art manufacturing facilities in India and 2 manufacturing sites in Germany and Austria. The company's strategy is to increase focus on its core business and expand both its geographic and product reach.HIL recently acquiredParador Holdings GmbH and with this acquisition, HIL became an end-to-end building solution provider from roofing to flooring while also expanding its global footprint.

HYSIL Thermal Insulation productsservices wide range of application including in Cement Industry, Metallurgical Industries, Oil Refinery &Petro-Chemical Industry, etc.HYSIL is positioned as a premiuminsulation solution within theniche market it caters.HYSIL being a non-core business of HIL Ltd, a conscious management decision was taken to divest the business and focus on its core Building Materials business.

Global Investment Banking firm, Singhi Advisors were the exclusive Strategic and Financial advisors to Imerys India for this transaction.

Mahesh Singhi, Founder and Managing Director of Singhi Advisorssaid,"This deal marks a milestone foray into a strategic adjacency in India for Imerysand is in line with HIL's strategy to divest non-core assets and consolidate in the building materials business".

The deal isexpected to close in three months subject to relevant conditions.