2 months ago
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Magnum Ice Cream Netherlands has completed the acquisition of a 61.9% bulk involvement successful Kwality Wall’s (India) Ltd. (KWIL), resulting successful a alteration successful the promoter classification.
"On 30th March, 2026, the Incoming Promoter acquired the Sale Shares from the Outgoing Promoters successful accordance with the SPA and different applicable laws," KWIL said successful a regulatory filing.
Pursuant to this transaction, the Incoming Promoter has acquired power implicit the institution and is classified arsenic a “promoter” of the institution successful accordance with the Listing Regulations, it added.
Meanwhile, the outgoing promoters person been reclassified from the “promoter” class to the nationalist category.
This acquisition is done arsenic per the Share Purchase Agreement (SPA) executed connected June 25, 2025, which includes The Magnum Ice Cream Company Netherlands BV and Unilever PLC, among others.
The "incoming Promoter [Magnum] agreed to get an aggregate of 145.44 crore equity shares of KWIL" representing 61.9% of the equity stock superior of the institution from the Outgoing Promoters Unilever.
KWIL has besides announced changes astatine the apical level. It has approved the assignment of Abhijit Bhattacharya arsenic an further (non-executive and non-independent) manager of the institution and president of the board. Ritesh Tiwari resigned arsenic further (non-executive and non-independent) manager of the company.
