Manali Petrochemicals Limited has completed the sale of its wholly owned step-down subsidiary, Notedome Limited, to C.O.I.M. S.p.A. – Chimica Organica Industriale Milanese – for a total consideration of approximately Rs 2.47 billion. The transaction, valued at around GBP 21.17 million, was finalised on 17 November 2025 after securing all necessary regulatory approvals. The Share Purchase Agreement for the divestment was announced on 20 October 2025. The sale forms part of Manali Petrochemicals’ strategic portfolio restructuring, allowing the company to sharpen its focus on its core polyols and derivatives business within the Indian market. Under the terms of the agreement, Manali Petrochemicals will continue to market its cast elastomers in India under a new trademark. The acquisition strengthens C.O.I.M.’s international presence in the polyurethane systems sector and supports its strategy of expanding production and service capabilities across key European markets. Mr Ashwin Muthiah, Chairman of MPL and Founder Chairman of AM International, Singapore, said the divestment aligns MPL’s portfolio with the organisation’s long-term strategy. He noted that reallocating capital, talent and R&D resources will enable MPL to concentrate on high-growth segments such as automotive, cold chain, construction, footwear and propylene glycol derivatives, while also providing the flexibility to pursue aligned global M&A opportunities. Mr Giuseppe Librandi, CEO of C.O.I.M. S.p.A., commented that the acquisition is an important step in C.O.I.M.’s global growth strategy, enhancing its polyurethane systems business and strengthening its technological and production footprint in Europe. He added that Notedome’s expertise and strong reputation in cast elastomers complement C.O.I.M.’s portfolio and support further innovation.