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BASF India receives Rs198 crore from sale of leather chemical business to Stahl

LiveMint logoLiveMint 02-10-2017 PTI

New Delhi: Chemicals company BASF India Ltd on Monday said it has received Rs197.63 crore from Stahl India Pvt. Ltd for sale of its leather chemicals business.

“The company has received an aggregate sum of Rs197.63 crore from Stahl India Pvt. Ltd towards the consideration for the sale of the leather chemicals business,” BASF India said in a BSE filing.

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

On 29 September, shares of BASF India closed 0.91% up at Rs1500.40 on BSE, while the Sensex rose 1.24 points to close at 31,283.72.

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