BASF India announced that its ultimate holding company, BASF SE, Germany has signed an agreement on 17 July 2024 with Solenis, a global producer of specialty chemicals headquartered in Wilmington, Delaware, to globally sell BASF's flocculants business for mining applications. The divestment of BASF's flocculants business to Solenis is part of BASF's global portfolio optimization, aiming to focus on core strategic areas. The transaction is expected to close in the second half of 2024, subject to the approval(s) of the relevant Competition Commission / Anti-trust authorities.
In India, the flocculants business for mining applications, forms part of the Performance Chemicals Division of Industrial Solutions Segment of BASF India. The flocculants business generated net sales of approx. Rs. 27.7 crore representing 0.20 % of the total sales for the financial year ended 31 March 2024.
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