West Bengal

The Chatterjee Group, Rhône Capital Complete Joint Acquisition of Lummus Technology

Wednesday, July 1, 2020 - 12:44am

HOUSTON, June 30, 2020 /PRNewswire/ -- Lummus Technology today announced that Haldia Petrochemicals Limited, the flagship company of The Chatterjee Group (TCG), and investment funds affiliated with Rhne Capital have successfully completed the joint acquisition of Lummus from McDermott International.

Key Points: 
  • HOUSTON, June 30, 2020 /PRNewswire/ -- Lummus Technology today announced that Haldia Petrochemicals Limited, the flagship company of The Chatterjee Group (TCG), and investment funds affiliated with Rhne Capital have successfully completed the joint acquisition of Lummus from McDermott International.
  • "This new and notable chapter starts with Lummus being a standalone company, as we will be theonly major process technology licensor that is independent and privately held," said Leon de Bruyn, President and Chief Executive Officer of Lummus Technology.
  • Dr. Purnendu Chatterjee, Founder Chairman of TCG, added:"Our investments are both strategic and long-term, where most span across 25-30 years.
  • Rhne has invested in a diversified portfolio of companies including investments in the business services, consumer and industrial sectors.