Maximus Group Acquires 100 Percent Control of Its Manufacturing Step-down Subsidiary in Kenya

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    Vadodara, Gujarat, India:
     MX Africa Limited (MXAL), has entered into SPA to accumulate the remaining 49 % stake in the Kenya-based Quantum Lubricants Limited (QLL). MXAL is the Kenya-based wholly owned subsidiary of Maximus International Limited (MIL).

    Earlier, in 2019, MXAL had acquired a 51 % fairness stake in QLL which paved its entry into lubricant manufacturing in the African markets. With the continued acquisition of the 49 %, MXAL will take complete management over QLL’s whole operations.

    MIL’s Managing Director, Mr. Deepak Raval stated “This acquisition of 49 percent in QLL is a part of our on-going global expansion plan. We now have total control over QLL’s operations which will facilitate our expansion programme.”

    The firm is presently in the midst of implementing an formidable Rs 25-crore enlargement programme which entails tripling its manufacturing capability.

     

    Note:

    For additional particulars on the corporate please consult with the under talked about hyperlink:

    http://www.maximusinternational.in/document?file=1658315428_company-profile2022.pdf

    Click right here for Media Contact Details

    Milind Joshi (Chief Financial Officer – Investor Relation), Maximus International Limited, [email protected], +91 (265) 2325321/2345321

    Job Cornelius, Corporate Communications/PR, [email protected]


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