Manali Petrochemicals Ltd (MPL) has completed the divestment of its UK-based subsidiary, Notedome Ltd, to Italian specialty chemicals giant COIM S.p.A for ₹2.47 billion. The deal, executed via MPL’s Singapore arm AMCHEM, strengthens COIM’s polyurethane systems portfolio while streamlining MPL’s global operations and unlocking significant shareholder value.
Manali Petrochemicals Ltd (MPL), a Chennai-headquartered petrochemical manufacturer, has successfully concluded the sale of its overseas subsidiary Notedome Ltd, UK, to COIM S.p.A, Italy, for a consideration of ₹2.47 billion. The transaction was executed through MPL’s wholly-owned Singapore-based subsidiary, AMCHEM, which held the stake in Notedome.
Notedome, a leading polyurethane systems company specializing in elastomers, has been valued at more than 8.5 times its adjusted EBITDA of £2.12 million. The deal was completed on a cash-free, debt-free basis, following shareholder approval and regulatory clearances.
This strategic divestment allows MPL to consolidate resources, focus on core petrochemical operations, and enhance liquidity, while COIM strengthens its global footprint in polyurethane systems.
Key Highlights
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Transaction Value: ₹2.47 billion (approx. £23.5 million)
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Buyer: COIM S.p.A, Italy – a global specialty chemicals manufacturer
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Seller: Manali Petrochemicals Ltd via AMCHEM (Singapore)
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Target Company: Notedome Ltd, UK – polyurethane systems specialist
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Valuation Basis: Over 8.5x adjusted EBITDA (£2.12 million)
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Strategic Impact for MPL: Streamlined global operations, improved liquidity, focus on core petrochemicals
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Strategic Impact for COIM: Expanded polyurethane systems portfolio, stronger presence in elastomers
Sources: Press Release – COIM Group, New Indian Express, Economic Times