BASF to sell its flocculants business for mining applications to Solenis

BASF SE, Germany (Ultimate Holding Company of BASF India Ltd) that globally BASF has signed an agreement on July 17, 2024 with Solenis, a global producer of specialty chemicals headquartered in Wilmington, Delaware, to sell BASF's flocculants business for mining applications. The divestment of BASF's flocculants business to Solenis is part of BASF's global portfolio optimization, aiming to focus on core strategic areas. The transaction is expected to close in the second half of 2024, subject to the approval(s) of the relevant Competition Commission / Anti-trust authorities.

In India, the flocculants business for mining applications, forms part of the Performance Chemicals Division of Industrial Solutions Segment of BASF India Limited. The flocculants business generated net sales of approx. Rs. 27.7 crore representing 0.20 % of the total sales for the financial year ended 31st March 2024.

Shares of BASF India Limited was last trading in BSE at Rs. 5639.95 as compared to the previous close of Rs. 5587.00. The total number of shares traded during the day was 4892 in over 1098 trades.

The stock hit an intraday high of Rs. 5705.55 and intraday low of 5580.50. The net turnover during the day was Rs. 27585941.00.

Source : Equity Bulls

Keywords

BASFIndia INE373A01013 BASFSE Germany Solenis Sale FlocculantsBusiness