Camlin Fine Sciences Limited increases stake in Dresen

Camlin Fine Sciences Limited had earlier announced regarding approval of the Board of Directors for further acquisition of upto 35% stake in subsidiary namely, Dresen Quimica S.A.P.I. DE C.V. ('Dresen') from Controladora De Servicios Riso S.A.P.I. de C.V. ('joint venture partner').

Pursuant to the aforesaid approval the Company, through its newly incorporated wholly owned subsidiary in Mexico namely, CFS de Mexico Blends, S.A.P.I. DE C.V. (CFS Blends), has acquired 33.50% stake from the joint venture partner for an consideration amount of USD 8.50 million (US Dollars Eight Million Five Hundred Thousand).

The Company (along with CFS Blends) now holds 98.50% stake in Dresen.

Shares of Camlin Fine Sciences Limited was last trading in BSE at Rs. 160.10 as compared to the previous close of Rs. 163.30. The total number of shares traded during the day was 73071 in over 1872 trades.

The stock hit an intraday high of Rs. 166.45 and intraday low of 159.50. The net turnover during the day was Rs. 11908748.00.

Source : Equity Bulls

Keywords

CamlinFineSciencesLimited INE052I01032 CAMLINFINE SpecialtyChemicals StakeIncrease Dresen