Stocks

BASF India hives off arm for ₹33.5 crore

| Updated on July 08, 2019 Published on July 09, 2019

 

BASF India has entered into an agreement with Archroma India Private Ltd to divest its stilbene-based optical brightening agents business for paper and powder detergent applications (OBA business) for ₹33.50 crore.

The transaction, which includes the stilbene-based OBA product portfolio and the manufacturing unit at Ankleshwar, is expected to be completed by the fourth quarter of the current fiscal. Shareholders will closely monitor the development.

Published on July 09, 2019
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