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BASF India to divest its Production Site in Quincy, Florida to Clariant for $60M; Stock ends over 6% up

The transaction is expected to close in 2022, subject to the approval of the relevant Competition Commission / Anti-trust Authorities.

December 29, 2021 4:23 IST | India Infoline News Service
BASF India
BASF India-led holding company, BASF SE, Germany has reached an agreement to divest its manufacturing site in Quincy, Florida and the associated attapulgite business for a purchase price of USD 60 million to Clariant.

The transaction is expected to close in 2022, subject to the approval of the relevant Competition Commission / Anti-trust Authorities.

As part of the divestiture, BASF would also enter into a long-term supply agreement for attapulgite business with Clariant, which will allow BASF to continue to support and grow with its customers in the paints, coatings, and construction markets.

The attapulgite business forms part of the Dispersions & Resins Division of Industrial Solutions Segment of BASF India Limited and has generated net sales of approx. Rs7.09cr during the financial year ended 31st March 2021.

On Sensex, Basf India closed at Rs3060.10  per piece higher by Rs181.25  or 6.3%. 

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