BASF India completes full acquisition of BASF Performance Polyamides

The company acquired BASF Performance Polyamides from BASF Nederland B.V. and BASF SE for an aggregate consideration of Rs302.90cr.

Aug 19, 2020 12:08 IST India Infoline News Service

BASF India
BASF India Limited on Tuesday has completed 100% acquisition of BASF Performance Polyamides India Private Limited from BASF Nederland B.V. and BASF SE for an aggregate consideration of Rs302.90cr.

“We refer to our earlier letter dated July 10, 2020, wherein we had intimated regarding the acquisition of 100% stake by the company in BASF Performance Polyamides India Private Limited from BASF Nederland B.V. and BASF SE for consideration of an amount not exceeding Rs305 cr, including adjustments, if any, at an arm’s length basis, subject to the approval of the shareholders of the Company, being a related party transaction,” company reminded the exchanges on Wednesday.

It further added that “The company at their Annual General Meeting held on August 6, 2020 had approved the said proposal with requisite majority and accordingly, the company has on August 18, 2020 acquired 100% stake in BASF Performance Polyamides India Private Limited from BASF Nederland B.V. and BASF SE for an aggregate consideration of Rs302.90cr).

BASF Performance Polyamides has now become a wholly owned subsidiary of the BASF India Limited.

BASF India Ltd is currently trading at Rs1,307.55, down by Rs2.6 or 0.2% from its previous closing of Rs1,310.15 on the BSE.

Related Story