Building materials company HIL (formerly Hyderabad Industries Ltd) is upbeat on the acquisition of Germany-based Parador Holdings, said Dhirup Roy Choudhary, MD and CEO, adding that its focus on domestic business will continue.

The company on Tuesday said that through its wholly owned subsidiary, HIL International has completed the acquisition of Parador Holdings after receiving all necessary regulatory approvals including anti-trust approvals from the German Federal Republic.

The acquisition is funded by a mix of euro debt, rupee debt and internal accruals.

Indian banks, as well as European banks, are extremely encouraging because they had good view on Parador management, Choudhary said. "Therefore, 40 percent of funding has come from Europe, which would substantially lower down the interest for the company," he said, adding that the blended rates would be around 5 percent.

On domestic business, Choudhary said the company is trying to fire all cylinders together. “The domestic business and organic growth is something that we are not losing sight on,” he added.

First Published:Aug 29, 2018 3:25 PM IST