ICI India completes sale of equity in Quest Intl

New Delhi, Mar 4: ICI India Ltd has sold its 100 per cent equity shareholding in Quest International India Ltd to Givaudari (India) Pvt Ltd for a sum of Rs 320 crore, which it announced in November last.

The company also received an interim dividend of about Rs 31 crore prior to the said sale of shares, a statement said here on Friday.

It expects to receive a further consideration of about Rs 35 crore for various agreed adjustments in the next quarter, it added.

ICI India manufactures and markets paints, speciality chemicals, adhesives and starch. The company through its joint venture also manufactures and markets fragrances and flavours.

UNI