Akzo Nobel India To Sell Starch Business To Corn Products
October 04 2010 - 9:44AM
Dow Jones News
Akzo Nobel India Ltd. (500710.BY) said Monday it agreed to sell
its specialty starches business, National Starch LLC, to Corn
Products International Inc. (CPO) for INR120 million ($2.7
million).
The deal value is subject to adjustment toward working capital
and related provisions, Akzo said in a filing with the Bombay Stock
Exchange.
National Starch had annual revenue of about INR100 million in
the year ended March 31, 2010.
The unit of Netherlands-based Akzo Nobel N.V. (AKZOY) said it
expects the transaction to close in the current fiscal year.
-By Eric Yep, Dow Jones Newswires; 91-22-6145-6110;
eric.yep@dowjones.com
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