Sector News

BASF gets Rs 198cr after sale of leather chemical biz to Stahl

October 3, 2017
Chemical Value Chain

Chemicals company BASF on Monday said it has received Rs 197.63 crore from Stahl India for sale of its leather chemicals business.

“The company has received an aggregate sum of Rs 197.63 crore from Stahl India Private towards the consideration for the sale of the leather chemicals business,” BASF India said in a BSE filing on Monday.

According to the statement, the leather chemicals business stands transferred to Stahl India from September 30, 2017.

BASF India’s parent company BASF SE Germany had signed an agreement for sale of global leather chemicals business to Stahl Group.

BASF India is engaged in providing chemicals, plastics, performance enhancing and crop protection products, among others.

Source: Money Control

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