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Ester Industries gets nod to transfer engineering plastics business to Radici Plastics

07 May 2022 Evaluate

Ester Industries has received an approval to transfer its Engineering Plastics Business by way of slump sale as a 'going concern' to Radici Plastics India (Buyer). The company has signed and entered into a Business Transfer Agreement (BTA) with the buyer. The buyer is a subsidiary of Radici Novacips Spa, Italy, part of Radici Group, Italy and one of the world's leading producers of a wide range of chemical intermediates, polyamide polymers, high performance engineering polymers and advanced textile solutions.

The consideration to be received for the above sale is Rs 289.33 crore subject to the adjustments specified in the BTA and other agreements executed or to be executed by the Company and the Buyer. The Board of Directors of the company at its meeting held on May 6, 2022, has considered and approved the same.

Ester Industries main business activities are production and marketing of versatile ranges of polyester films and engineering plastics.

Ester Inds Share Price

93.09 0.79 (0.86%)
17-Apr-2026 16:59 View Price Chart
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