BASF SE (Ludwigshafen, Germany) has divested its shares in the joint venture (JV) companies, BASF Markor Chemical Manufacturing (Xinjiang) Co., Ltd. and Markor Meiou Chemical (Xinjiang) Co., Ltd. in Korla, China, to Verde Chemical Singapore Pte. Ltd. Following approval by the relevant authorities, the transaction was completed effective April 21, 2025. Both parties have agreed not to disclose financial details of the transaction. BASF’s intent to divest these assets was first announced in 2024.
Verde Chemical Singapore Pte Ltd, a company registered in Singapore, is majority controlled by Verde Ventures SGP, also a Singapore registered company. The company is currently establishing an intellectual property and license center in Singapore to commercialize cutting edge technologies and with the support of minority shareholder GSS Energy Limited, leverage such technologies to support manufacturing in Southeast Asia.