Camlin Fine Sciences has decided to divest its entire shareholding of $76,000 in its subsidiary namely Dulcette Technologies LLC, USA for a consideration of $10. The consideration has been fixed by the valuers on the basis of latest financials of the said subsidiary company.
The subsidiary did not make any positive contribution to the turnover and assets of the company during the last financial year. The shares in the aforesaid subsidiary are being purchased by Viachem LLC, USA by virtue of an agreement dated February 10, 2015.
Camlin Fine Chemicals is the world's second largest manufacturer and marketer of food grade antioxidants TBHQ and BHA.
