Chembond Chemicals has entered into a Share Purchase Agreement (SPA) with I-Chem Solution Sdn Bhd, Malaysia and I-Chembond Water Sdn Bhd, Malaysia, whereby the company, subject to the conditions to be fulfilled as per the SPA, would acquire additional 49% of the equity shares of I-Chembond Water Sdn Bhd, Malaysia.
Post fulfillment of all the necessary terms, conditions & requirements as mentioned in the SPA, the company would hold 100% of equity share capital of I-Chembond Water Sdn Bhd, Malaysia. Further, pursuant to the fulfillment of the terms of the SPA, the Joint Venture (JV) agreement with I-Chem Solution Sdn Bhd, Malaysia stands terminated.
Chembond Chemicals is engaged in specialty chemicals business and offers a range of products for industrial applications. The company offers products for applications in the areas of construction chemicals, industrial coatings and chemical trading.
