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Solvay to sell 62.36% stake in Sunshield Chemicals

 Last Update: 2023-01-21
 Source: Internet
 Author: User

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The Belgium-based global leader in chemicals has agreed to take its 62.
36% stake in publicly traded Sunshield Chemicals, a Rs 200 crore company engaged in surfactants, ethoxylation and antioxidants Stake sold to Mumbai-based Indus Petrochem for an enterprise value of Rs 200 crore
.

Indus Petrochem is engaged in the oleochemical business.
The company distributes products from global chemical companies such as Solvay, Procter & Gamble (Procter & Gamble) and Shell, and has a strong domestic distribution network
.

Solvay acquired the business from Amit Choksey Group in 2012 and decided to divest it by selling a 62.
36% stake to Indus Petrochem in line with its global business strategy
.

Singhi Advisors, a homegrown global investment banking firm, acted as the exclusive strategic and financial advisor to the transaction
.

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