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MPL Sells UK Unit for ₹247 Crore, Eyes India Growth
18 Nov
Summary
- Manali Petrochemicals sold its UK subsidiary Notedome Ltd for ₹247 crore.
- The divestment allows MPL to focus on core polyols business in India.
- C.O.I.M. of Italy acquired Notedome Ltd to expand its European presence.
Manali Petrochemicals Ltd (MPL) has finalized the sale of its step-down subsidiary, Notedome Ltd, to Italian company C.O.I.M. S.p.A. for a substantial consideration of ₹247 crore. This transaction, which received all necessary regulatory approvals, marks a significant step in MPL's strategic portfolio restructuring.
The divestment is aimed at enabling MPL to concentrate its resources and efforts on its core businesses, particularly its polyols product portfolio and derivatives, within the dynamic Indian market. Concurrently, MPL will continue to market its cast elastomers in India under a newly established trademark, ensuring continued brand presence.
For C.O.I.M., the acquisition strengthens its international footprint in the polyurethane systems sector, enhancing its product and service capabilities across key European markets. This move aligns with MPL's objective to strategically focus capital and R&D on high-growth segments like automotive, construction, and cold chain, while also providing flexibility for future global acquisitions.
