ICI India completes sale of its Advanced Refinish (2K) Business

With reference to the earlier announcement dated February 20, 2007, following the fulfillment of necessary conditions precedent, ICI India Ltd has announced that on March 16, 2007 the Company has completed the divestment of Advanced Refinish (2K) Business and has received a consideration of Rs 45 crores. Balance consideration of about Rs 7 crores, subject to certain agreed adjustments, is expected to be received in the next quarter.

Source : Equity Bulls

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