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BASF India concludes transfer of stilbene-based OBA business to Archroma

The Company has received a consideration of Rs 33.50 crore subject to necessary working capital adjustments

Capital Market 

announced that the company's stilbene based Optical Brightening Agents business for paper and powder detergent applications stands transferred to Archroma India with effect from 06 December 2019.

The Company has received a consideration of Rs. 33.50 crore subject to necessary working capital adjustments including an amount of Rs. 13.84 crore which will be kept in escrow for a period of 12 months from the closing date.

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(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Fri, December 06 2019. 18:17 IST
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