Clariant Chemicals to sell 87 acres of Thane land for Rs 1,154.25 crore

Clariant Chemicals (India) has entered into an agreement to sell its land located in Kolshet, Thane aggregating to about 87 acres to Ishwer Realty and Technologies, a subsidiary of Lodha Developers for an aggregate consideration of Rs 1,154.25 crore. The company has taken this step in accordance with the approval of shareholders. Further, the transaction is subject to customary closing conditions and is subject to relevant approvals and permissions from the Government and other Statutory Bodies, as may be necessary. Clariant Chemicals (India) represents a valuable repository of manufacturing and marketing experience. Its constituents were all well respected companies who played an invaluable role in the development of the textiles, leather, paints, plastics, printing inks and agrochemicals industries in India.