Archroma completes the acquisition of BASF’s stilbene-based OBA business for paper and powder detergent applications

The company has received a consideration of Rs33.50cr subject to necessary working capital adjustments including an amount of Rs13.84cr which will be kept in escrow for a period of 12 months from the closing date.

Dec 06, 2019 09:12 IST India Infoline News Service

BASF India
BASF Ltd. informed the completion of divestment of the company's stilbene-based Optical Brightening Agents business for paper and powder detergent applications, which now stands transferred to Archroma India Private Limited with effect from 6th December, 2019.

The Company has received a consideration of Rs33.50cr subject to necessary working capital adjustments incuding an amount of Rs13.84cr which will be kept in escrow for a period of 12 months from the closing date.

BASF India Ltd is currently trading at Rs972.30 down by Rs15 or 1.52% from its previous closing of Rs987.30 on the BSE.
The scrip opened at Rs990.85 and has touched a high and low of Rs990.85 and Rs972.30 respectively. So far 5,292 (NSE+BSE) shares were traded on the counter.

The current market cap of the company is Rs4,274.02cr.

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