BASF SE, Germany to sell its Kaolin Minerals Business to Kamin LLC, United States

BASF SE, Germany (Ultimate Holding Company of BASF India Ltd) has announced that they have signed an agreement with KaMin LLC / CADAM S.A. (KaMin), a global performance minerals company headquartered in Macon, Georgia, United States, to sell BASF’s Kaolin minerals business globally. The closing of the transaction is expected in the second half of 2022, subject to receipt of requisite approvals from relevant Competition Commission / Anti-Trust authorities.

The Kaolin Minerals business, forms part of the Performance Chemicals Division of Industrial Solutions Segment of BASF India Limited, and has generated net sales of approx. Rs.8.5 crore during the financial year ended 31st March 2021.

Shares of BASF India Limited was last trading in BSE at Rs. 2835.35 as compared to the previous close of Rs. 2889.25. The total number of shares traded during the day was 2801 in over 985 trades.

The stock hit an intraday high of Rs. 2919.95 and intraday low of 2813.85. The net turnover during the day was Rs. 7991538.00.

Source : Equity Bulls

Keywords

BASFIndiaLimited INE373A01013 BASF SpecialtyChemicals KaolinMinerals KaMinLLC