Rain CII Carbon completes acquisition of Rutgers

KOLKATA: Rain CII Carbon LLC, an arm of Rain Commodities Ltd, has completed the €702-million acquisition of Belgium-based coal tar pitch manufacturer, Rutgers N.V.

The Hyderabad-based Rain Commodities said in a release on Saturday the transaction was funded through a combination of internal cash accruals and proceeds from the issue of senior secured notes.

The company announced the acquisition deal in October 2012.