Deals3 Jan 2025, 09:19 pm
BASF India Transfers Coatings Business to Wholly Owned Subsidiary for Rs. 1,820 Million
AI Summary
BASF India Ltd. has transferred its Coatings business to BASF India Coatings Private Limited, a 100% wholly owned subsidiary, for a consideration of Rs. 1,820 million. The transaction closed on 315th December 2024, with the Coatings business being transferred to the subsidiary from 15th January 2025. The final consideration amount will be adjusted for the fair values of net assets transferred as per the Income Tax Act, 1961 and Income Tax Rules, 1962, and will be intimated to the Stock Exchanges post-adjustment.
Key Highlights
- BASF India transfers Coatings business to wholly owned subsidiary
- Transaction consideration is Rs. 1,820 million
- Transfer effective from 15th January 2025
- Final consideration amount to be adjusted for fair values of net assets transferred
- Adjusted final consideration amount to be intimated to Stock Exchanges