Manali Petro completes sale of its step-down subsidiary Notedome Ltd

Chennai, Nov 18 (PTI) Manali Petrochemicals Ltd has completed the sale of its step-down subsidiary Notedome Ltd to C.O.I.M. S.p.A Chimica Organica Industriale Milanese for a total consideration of 21.17 pounds, approximately Rs 247 crore, the company said on Tuesday.

The divestment is part of the company's strategic portfolio restructuring, aimed at enhancing its focus on its core business related to polyols and derivatives in the domestic market.

All the necessary regulatory approvals were secured following the announcement of the Share Purchase Agreement on October 20, 2025, a company statement here said on Tuesday.

"MPL is happy to announce that we have divested our PU Elastomer business of Notedome to optimise MPL portfolio in line with the future strategy of the organisation." MPL Chairman Ashwin Muthiah said.

"This move allows MPL to strategically focus our capital, talent and Research and Development efforts on the current, high-growth market segment products with robust and scalable demand - in automotive, cold chain, construction, footwear as well as propylene glycol derivatives," he said in the statement.

With this strategic acquisition, C.O.I.M. S.p.A. strengthens its international presence in the polyurethane systems sector and further expands its product and service capabilities in key European markets.

The Chief Executive Officer of C.O.I.M. S.p.A - Chimica Organica Industriale Milanese, Giuseppe Librandi said, "This acquisition marks an important step in C.O.I.M's international growth strategy, strengthening our presence in the polyurethane systems business and expanding our technological and production capabilities in Europe." PTI VIJ ROH