Rektron Group Signs Term Sheet for Acquisition of R.K. Batra Group

Rektron Group Inc., a global commodity trading enterprise, has entered into a non-binding term sheet with India’s R.K. Batra Group. The agreement aims to enhance Rektron's presence in the Liquified Petroleum Gas (LPG) sector, expanding its footprint in populous markets like India. Batra, established in India's LPG sector, operates over 950 road tankers and owns bottling plants.

The acquisition plans to double the capacity of Batra's operations and develop LPG terminals in India. It will be structured as a share swap or a combination of shares and cash, giving Rektron a 68% stake in the new entity. The deal awaits due diligence and regulatory approvals, with a target closing date of March 31, 2025.