BASF Divests Two Joint Ventures in China
BASF has transferred its shares in its joint ventures in Korla, China, BASF Meike Chemical Manufacturing (Xinjiang) Co., Ltd. and Meike Meiou Chemical (Xinjiang) Co., Ltd., to Verde Chemical Singapore Pte. Ltd.
The transaction has been approved by relevant authorities and was completed on April 21, 2025. The parties agreed not to disclose the financial details of the transaction.
Verde Chemical Singapore Pte Ltd is a company registered in Singapore, with a majority stake controlled by Verde Ventures SGP, also registered in Singapore. The company is currently establishing an intellectual property and licensing center in Singapore to commercialize cutting-edge technologies and use these technologies to support manufacturing in Southeast Asia with the support of minority shareholder GSS Energy Limited.
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