BASF India surges 6% as Lone Star to acquire parent firm's chemical biz

In India, BASF's Construction Chemical business, which forms part of the Surface Technologies segment, has generated sales of Rs 484 crore for the year ended 31st March, 2019.

Shares of BASF India advanced 6.14 per cent to Rs 1,015.55 on the BSE on Monday after its parent company BASF, Germany signed a Purchase Agreement with an Affiliate of Lone Star, a global private equity player, for acquisition of BASF's Construction Chemicals Business.

In an exchange filing, the company said the purchase price on a cash and debt free basis is EUR 3.17 billion, and is expected to close in the third quarter of 2020, subject to approval of the relevant competition authorities. READ STATEMENT HERE

At 10:08 am, the stock was trading 4.9 per cent higher at