Mumbai, Sept. 16: The Clariant group today announced share exchange details for consolidation of four companies into Colour-Chem.

Shareholders of Clariant India will receive one share of Colour-Chem for every share held. Similarly, those holding five shares of Vanavil Dyes will receive one of Colour-Chem.

The four companies that are being merged into Colour-Chem are Clariant (India), Vanavil Dyes and Chemicals, BTP India and Kundalika Investments.

Colour-Chem decided on the swap ratio based on the valuation report submitted on September 16 by Bansi S Mehta & Co and N M Raiji & Co, the company informed the bourses today.

Kundalika Investments is a wholly-owned subsidiary of Colour-Chem. BTP India Pvt Ltd shareholders will get one share of Colour-Chem for five held.

Post merger, the company will be renamed Clariant Chemicals (India) Ltd. As a leading service-driven company and the preferred partner in the specialty chemicals industry in the country, the merged entity will be better placed to meet the needs of customers across different markets.

The Clariant group feels many business opportunities will emerge from the merger and it would help the integrated company expand further in the domestic market.

The companies are now planning to obtain various approvals necessary for the merger, including those from the shareholders and Bombay High Court.