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Ciba’s Indian Operations to Merge with BASF India
12:03 AM MDT | September 14, 2009 | Deepti Ramesh
BASF India (Mumbai) says it plans to merge Ciba’s operations in India - Ciba India (Mumbai), Diamond Dye-Chem (Ankleshwar, India) and Ciba Research India, with BASF India. The proposal for the merger was approved by the boards of directors of all the respective companies on September 12, 2009, and the merger is expected to take effect on February 1, 2010, BASF India says. BASF completed the $2.9-billion acquisition of Ciba Specialty Chemicals in April 2009. Equity shareholders of Ciba India and Ciba Research India will receive shares in BASF India...
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