Stake in Dulcette Technologies LLC to be purchased by Viachem LLC, USA
Camlin Fine Sciences has decided to divest its entire shareholding of USD 76,000/- in its subsidiary namely Dulcette Technologies LLC, USA for a consideration of USD 10/-. The consideration has been fixed by the Valuers on the basis of latest financials of the said subsidiary Company. The subsidiary did not make any positive contribution to the turnover and assets of the Company during the last financial year.The shares in the aforesaid subsidiary are being purchased by Viachem LLC, USA by virtue of an agreement dated 10 February 2015. This transaction is not reckoned as a related party transaction which is expected to get completed within 30 days.
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