Astral Arm to Acquire 60% Stake in Specialty Chemicals Technology Firm

MT Newswires Live06-12

Astral Chemie, a wholly-owned subsidiary of Astral (NSE:ASTRAL, BOM:532830), agreed to acquire a 60% stake in Differentiated and Sustainable Solutions (DSS) for 391.1 million Indian rupees, according to a Thursday filing to the Indian stock exchanges.

DSS develops technologies for specialty chemicals and materials used in electronics, aerospace, renewable energies, and infrastructure.

The transaction is expected to be completed by Aug. 31, after which DSS will become a subsidiary of Astral Chemie and a step-down subsidiary of Astral.

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