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BASF to sell its Kaolin Minerals business to KaMin LLC, United States

BASF SE, Germany has signed an agreement with KaMin in Macon, Georgia, United States, to sell BASF’s Kaolin minerals business globally.

November 22, 2021 12:17 IST | India Infoline News Service
BASF India
BASF India Limited informed the exchanges Friday that BASF SE, Germany (Ultimate Holding Company) has 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 ~ Rs8.5cr during the financial year ended March 31, 2021.

At around 12.20 pm, BASF India Ltd was trading at Rs2,753.15 per piece down by Rs82.2 or 2.9% from its previous closing of Rs2,835.35 per piece on the BSE.

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