BASF India has transferred coatings business to BASF India Coatings, Wholly Owned Subsidiary of the Company, with effect from January 1, 2025. Post-closing, the purchase consideration of Rs 182.0 crore will be adjusted to the extent of the fair values of net assets transferred as per the terms of the Business Transfer Agreement and Section 50B of the Income Tax Act, 1961 read with Rule 11UAE of the Income Tax Rules, 1962 as of Closing Date. After adjustment, the final consideration amount for the transfer of the Coatings business will be intimated to the Stock Exchanges.
Earlier, the Board of Directors of the Company had approved the transfer of Company’s Coatings business to BASF India Coatings, 100% wholly owned subsidiary, on slump sale and at arm’s length basis as determined by an Independent Valuer i.e., for a consideration of Rs 182.0 crore, subject to necessary adjustments, as may be required, on the closing date in accordance with the conditions specified in the Business Transfer Agreement.
BASF India was incorporated in 1943 and one of the leading company in chemical sector.
Company Name | CMP |
---|---|
UPL | 601.50 |
BASF India | 4480.95 |
PI Industries | 3291.80 |
Bayer CropScience | 4730.95 |
Sumitomo Chemical | 485.90 |
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