Delay in Vinpai Acquisition by Camlin Fine Science Limited

Camlin Fine Sciences Limited (CFSL), a notable Indian group in flavour and health ingredient solutions, has announced a delay in its acquisition of a majority stake in Vinpai. Originally planned for completion by mid-September, administrative hurdles in obtaining Indian tax identification numbers and dematerialized accounts have caused a pushback, with completion now expected by the end of August.

The acquisition involves the issuance of convertible bonds totaling €3.3 million, critical for Vinpai's operations. These bonds will mature by late October 2025. To proceed, CFSL's shareholders must approve the issuance of consideration shares at an upcoming meeting.

Following the acquisition, CFSL intends to launch a simplified cash tender offer for remaining Vinpai shares at €3.60 each, with the possibility of a squeeze-out if minority shareholders hold less than 10% of the company.