Dhirup Roy Choudhary, MD & CEO, HIL with Lubert Winnecken, CEO of Parador, and Mirco Thelen from Nord Holdings

HIL, part of the US$ 1.8 billion diversified CK Birla Group, completed the acquisition of Germany based Parador Holdings GmbH. The closing meeting also kicks off the process of integration of operations with a view to benefit from joint synergies. Parador continues to be the category leader in design and innovation with all products developed internally and produced with "Made in Germany" and "Made in Austria" quality.

HIL's wholly owned Subsidiary HIL International GMBH, will own 100% equity capital of Parador Holdings GmbH. The transaction was completed with shareholders of Parador Holdings GmbH wherein Dhirup Roy Choudhary represented as Managing Director & CEO, HIL Ltd and Managing Director, HIL International GmbH.

The all-cash consideration is being funded by HIL through a combination of Euro debt, INR debt and internal accruals. With this the Debt - Equity ratio of HIL on a standalone basis will be at 0.55 and on a consolidated basis will be at 1.0.

Consolidated financials of Parador Holdings GmbH and HIL is expected to be published as on March 31, 2019 along with the annual results. The consolidation will take into account the Parador financial for the period from September 1, 2018 to March 31, 2019 in the first year in line with IND AS requirements.

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