UK acquisition bodes well for Tide Water Oil

Tide Water Oil Co India is set to acquire UK-based Price Thomas Holdings for £9.59 million, it said in a post-market-hours disclosure. The share purchase agreement was signed on April 19, Tide Water said, adding that the post-acquisition formalities will be done soon. It will fund the acquisition through its cash reserves. Price Thomas manufactures and supplies lubricants and car care products in the UK, Ireland, Sweden and Bulgaria.