Avantha group’s Solaris Chemtech has sold its bromine manufacturing and distribution business to US-based Chemtura Corporation for $142 million (Rs. 800 crore)..Khaitan & Co advised Avantha Group with a team led by Partner Bharat Anand..J. Sagar Associates actes as Indian legal advisor to Chemtura with a team led by Partner Rohiteswar Prasad while Baker & Mckenzie acted as International legal counsel with a team led by Partner Edward West..The acquisition includes two manufacturing facilities, a well-established R&D centre and a multi-products facility in Gujarat..ET reports, Solaris is India’s largest manufacturer of bromine, a chemical product, and its derivatives. With annual revenue of $3 billion, Chemtura makes and sells specialty chemicals, agrochemicals and pool, spa and homecare products across the world..This acquisition would help strengthen Chemtura’s position in bromine, provide customers with increased security of supply through further diversification of its bromine supply sources and increase Chemtura’s bromine and bromine derivative capacity by 10-15 per cent initially.
Avantha group’s Solaris Chemtech has sold its bromine manufacturing and distribution business to US-based Chemtura Corporation for $142 million (Rs. 800 crore)..Khaitan & Co advised Avantha Group with a team led by Partner Bharat Anand..J. Sagar Associates actes as Indian legal advisor to Chemtura with a team led by Partner Rohiteswar Prasad while Baker & Mckenzie acted as International legal counsel with a team led by Partner Edward West..The acquisition includes two manufacturing facilities, a well-established R&D centre and a multi-products facility in Gujarat..ET reports, Solaris is India’s largest manufacturer of bromine, a chemical product, and its derivatives. With annual revenue of $3 billion, Chemtura makes and sells specialty chemicals, agrochemicals and pool, spa and homecare products across the world..This acquisition would help strengthen Chemtura’s position in bromine, provide customers with increased security of supply through further diversification of its bromine supply sources and increase Chemtura’s bromine and bromine derivative capacity by 10-15 per cent initially.
