# Borosil Renewables to acquire 100% of GMB and Interfloat

Borosil Renewables has approved the acquisition of 100% stakes in GMB Glasmanufaktur Brandenburg GmbH and Interfloat Corporation, both solar glass manufacturers. The deal includes cash and performance-based earnouts.

- Type: Acquisition
- Announced: 2022-04-25
- Where: Germany
- Value: $32.4M (30.0M EUR)
- Status: announced
- Products: solar glass
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md)

## Companies

- [Interfloat Group](https://endata.com/companies/45683.md) (target)
- [GMB Glasmanufaktur Brandenburg GmbH](https://endata.com/companies/45684.md) (target)
- [Borosil Renewables](https://endata.com/companies/56992.md) (acquirer)

## Sources

- [moneycontrol.com](https://www.moneycontrol.com/news/business/companies/borosil-to-buy-100-stake-in-germanys-gmb-and-interfloat-8405301.html), 2022-04-25: "Borosil Renewables Ltd on April 25 announced on exchanges that its board approved buying of 100 percent stake of Interfloat Corporation and GMB Glasmanufaktur Brandenburg GmbH (GMB)."
- [zeebiz.com](https://www.zeebiz.com/companies/news-borosil-renewables-to-invest-rs-1500-crore-in-two-years-to-add-capacity-by-25-times-184388), 2022-05-10: "The Borosil Group firm in late April acquired German company Interfloat Group -- the largest solar glass manufacturer in Europe -- for 55.5 million euro."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.