Company news

| Updated on August 01, 2014 Published on August 01, 2014

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.

Published on August 01, 2014
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