BASF India announced that BASF SE, Germany (Ultimate Holding Company of BASF India) that they have signed an agreement with KaMin LLC / CADAM S.A. (KaMin), a global performance minerals company headquartered in Macon, Georgia, United States, to sell BASF's Kaolin minerals business globally. The closing of the transaction is expected in the second half of 2022, subject to receipt of requisite approvals from relevant Competition Commission / Anti-Trust authorities.
The Kaolin Minerals business, forms part of the Performance Chemicals Division of Industrial Solutions Segment of BASF India, and has generated net sales of approx. Rs.8.5 crore during the financial year ended 31 March 2021.
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