Rain Commodities Ltd, leading manufacturer of calcined petroleum coke (CPC) in India, has agreed to acquire Belgium-based coal tar pitch manufacturer Ruetgers NV for Rs 4,905 crore.

Hyderabad-based Rain said it would acquire cent per cent of Ruetgers, which has been producing basic and specialty chemicals for more than 160 years, from its private equity owner Triton Partners.

Ruetgers has a workforce of around 1,000 people at eight international production sites. For the year to December 2011, it had reported gross revenues of _831 million.

Rain has CPC production plants in India, China and the United States. The list of its international customers spans several big aluminium, steel and titanium-dioxide producers. It has an annual CPC production capacity of 2.49 million tonne.

Rain said the acquisition of Ruetgers would be complementary to its core business of CPC.

Speaking about the acquisition, Rain added, "Expanding into tar distillation business constitutes both product and geographical diversification to Rain group and provides vertical depth within its core business."

Rain has plans to fund the deal via a blend of internal cash accrual and proceeds of its Euro 533 million of long-term bonds.

Subject to regulatory approval, the acquisition is expected to close before the end of first quarter of 2013.