Manali Petrochemicals Board Approves Sale of UK Subsidiary Notedome Ltd to Italy’s C.O.I.M. S.p.A
The company clarified that the deal does not constitute a related party transaction
Manali Petrochemicals Limited (BSE: 500268, NSE: MANALIPETC) has announced the proposed divestment of its step-down subsidiary, Notedome Limited, UK, to Italy-based C.O.I.M. S.p.A. – Chimica Organica Industriale Milanese, a global leader in chemical specialties.
In an exchange filing, the company stated that its Board of Directors has approved the proposal for its wholly-owned overseas subsidiary, AMCHEM SG, to sell its entire stake in Notedome Limited to C.O.I.M. S.p.A. The divestment marks a strategic portfolio restructuring move for Manali Petrochemicals.
The transaction, subject to shareholders’ approval via postal ballot, will see both parties enter into a binding Share Purchase Agreement (SPA) in due course.
Under the agreed terms, C.O.I.M. S.p.A. will acquire Notedome Limited for a consideration of at least 8.5 times the adjusted EBITDA of £2.12 million, with the sale conducted on a cash-free, debt-free basis, and customary adjustments as per the agreement.
Following the completion—expected by the end of November 2025—Notedome Limited, UK, and its subsidiary will cease to be wholly-owned step-down subsidiaries of Manali Petrochemicals Limited. The company clarified that the deal does not constitute a related party transaction.
For FY 2024–25, Notedome Limited contributed 10.63% of the consolidated income and 5.57% of the consolidated net worth of Manali Petrochemicals Limited.
The company has reaffirmed its commitment to keeping the stock exchanges informed as the transaction progresses.
