Acquisitions30 Jul 2025, 02:40 pm
BASF India Ltd Approves Acquisition of 26% Stake in Clean Max Amalfi for INR 65.93 Mio
AI Summary
BASF India Ltd has approved the acquisition of 26% in the equity share capital of Clean Max Amalfi Private Limited for an amount not exceeding INR 65.93 mio. This acquisition is for the procurement of ~ 28,854 MWh of renewable power (solar & wind) for its manufacturing sites at Dahej and Panoli under Group Captive Power Generation Mechanism. The closing of the transaction is subject to signing of the Definitive Agreements, receipt of the requisite approvals and other specified conditions.
Key Highlights
- BASF India Ltd approves acquisition of 26% stake in Clean Max Amalfi Private Limited
- The acquisition is for the procurement of ~ 28,854 MWh of renewable power
- The transaction is subject to signing of the Definitive Agreements
- The closing of the transaction is subject to receipt of the requisite approvals
- The acquisition is under Group Captive Power Generation Mechanism as per the prevailing renewable energy policy of the State of Gujarat and the Electricity Act 2003 and the Rules thereunder