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Clariant Chemicals (India) Ltd's board of directors on Thursday approved the sale of textile chemicals, paper specialities and emulsion businesses by way of a slump sale on an "as is where is basis" to Archroma India Pvt Ltd for Rs 209.15 crore.
Archroma India is owned by S.K. Spice Sarl, an affiliate of S.K. Capital Partners, a US-based private Investment Firm.
The board also cleared relocation of the masterbatches plant from Kolshet, Thane to Renaissance Industrial & Warehousing Complex at Vashere in Thane district to be operational from December, 2013, the company said in a filing with the stock exchanges.
The shares of the company were trading at Rs 513, up by Rs 7.15, on the BSE.
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