Stahl India Private Limited signed an agreement to acquire Leather Chemicals Business from BASF India Limited (BSE:500042) on March 22, 2017. Under the terms of the agreement, BASF will receive a 16% minority stake in the Stahl and a cash consideration of approximately €150 million. Stahl will finance the cash consideration with a mix of own cash and additional debt. The transaction comprises BASF’s global leather chemicals business, as well as the leather chemicals production site in L’Hospitalet, Spain. Around 210 positions globally are in the scope of the transaction, of which about 110 are in Asia. The target Leather Chemicals Business posted sales of approximately €200 million in 2016. The completion of the transaction is subject to necessary regulatory approvals and approvalfrom BASF India Limited's board of directors. As on March 23, 2017, board of directors of BASF India approved the deal. Transaction is expected to close in the fourth quarter of 2017. Stahl also expects to generate synergies at the earning before interest, tax, depreciation and amortization level, to be deployed over the 24 months following the closing of the transaction. Srinath Dasari, Bhuvana Veeraragavan and Veena Gopalakrishnan of AZB & Partners acted as legal advisor for Stahl India Private Limited . Gilles Lebreton, Claudia Milbradt, David Elshorst, Dessislava Savova, Felix Mühlhäuser, Glen Ma, Katia Gauzès, Marc Besen, Melissa Ng, Stefan Simon, Thomas Krecek, Amrei Fuder, Anne-Katrin Graue, Carme Briera, Florian Reiling, Guillermo Guardia, Katrin Schallenberg, Line Poliquin, Maria-Franziska Röntsch, Olivier Gaillard, Ulrich A. Pfeffer, Ulrike Breidenstein, Alexander Cappel, Amélie Lavenir, Dunja Damjanovic-Pralong, Florès Jiang, Floris van de Bult, Liesbeth Snoeijer, Pierre-Benoît Pabot du Chatelard, Pieter Wiegman and Rona Nisar of Clifford Chance advised Wendel SE. Stahl India Private Limited completed the acquisition of Leather Chemicals Business from BASF India Limited (BSE:500042) on September 30, 2017. Under the terms of consideration Stahl paid 16% of the equity of Stahl and a cash consideration of approximately €110 million, significantly less than the €150 million announced at signing as a result of closing adjustments (inclusive of net debt and working capital). Around 210 positions globally have transferred to the Stahl Group.