BASF India has entered into an agreement with Archroma India Private Ltd to divest its stilbene-based optical brightening agents business for paper and powder detergent applications (OBA business) for ₹33.50 crore.
The transaction, which includes the stilbene-based OBA product portfolio and the manufacturing unit at Ankleshwar, is expected to be completed by the fourth quarter of the current fiscal. Shareholders will closely monitor the development.