BASF India Limited completes acquisition of BASF Performance Polyamides India Private Limited

BASF India Limited had earlier announced regarding the acquisition of 100% stake by the Company in BASF Performance Polyamides India Private Limited from BASF Nederland B.V. and BASF SE for a consideration of an amount not exceeding Rs. 305 crore, including adjustments, if any, at arm's length basis, subject to the approval of the shareholders of the Company, being a related party transaction.

The shareholders of the Company at their Annual General Meeting held on 6th August, 2020 had approved the said proposal with requisite majority and accordingly, the Company has on 18th August, 2020 acquired 100% stake in BASF Performance Polyamides India Private Limited from BASF Nederland B.V. and BASF SE for an aggregate consideration of Rs. 302.90 crore.

Pursuant to the said transaction, BASF Performance Polyamides India Private Limited is now a wholly owned subsidiary of the Company.

Shares of BASF INDIA LTD. was last trading in BSE at Rs.1314.2 as compared to the previous close of Rs. 1281.6. The total number of shares traded during the day was 5020 in over 885 trades.

The stock hit an intraday high of Rs. 1337.5 and intraday low of 1280.45. The net turnover during the day was Rs. 6619268.

Source : Equity Bulls

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