Solar Industries India will acquire South Africa-based Omnia Holdings in an all-cash deal worth approximately $1.36 billion. Solar SA Investments, an indirect wholly-owned subsidiary, will execute the transaction. This strategic move aims to expand the company's presence in the global mining and explosives market.
Omnia Holdings maintains operations in 23 countries across the mining and agriculture sectors. The firm currently serves a customer base spanning more than 40 countries. Solar Industries expects the acquisition to substantially increase its revenue from the African mining industry.
The transaction remains subject to necessary regulatory and shareholder approvals.