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SeQuent Scientific Ltd on Friday announced the completion of the sale of its specialty chemicals business to Songwon Industrial Group, South Korea, for ₹120 crore in cash. The division includes polymer stabiliser business and production site in Panoli, Gujarat, together with the local R&D team. The transaction was originally announced in April and has now completed after receiving regulatory approvals. Shares of SeQuent Scientific closed at ₹384, up 0.17 per cent over the previous day's close on the BSE.
Prime Focus has executed the business transfer agreement to dispose of its back-end business, amid concern over slump sales, to Prime Focus World Creative Services for $38 million (about ₹230 crore). The latter is a direct subsidiary of the Netherlands-based Prime Focus World (PFW), which is an indirect subsidiary of Prime Focus. Prime Focus also said in a notification to the exchanges that PFW has completed the merger of its Hollywood business with Double Negative. The stock of Prime Focus slipped 0.3 per cent to ₹49.75 on the BSE.
Gujarat Themis Biosyn’s promoter plans to sell a 9.79 per cent stake, or 14.23 lakh shares, in the company to public through the offer-for-sale route. The move is to meet the minimum public shareholding norm. The stock on Friday closed at ₹19, up 5 per cent over the previous close, on the BSE.
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