Clariant AG (SWX:CLN) is reportedly in advanced talks to acquire Galaxy Surfactants Limited, two people aware of the development said. The transaction is potentially worth INR 1.3 billion to INR 1.5 billion, the two said on condition of anonymity. Galaxy had also hired Avendus Capital to find a buyer, one of the two people said.

Unnathan Shekhar, Managing Director and Chief Executive Officer of Galaxy Surfactants, did not response to any mails. Also, a Clariant spokesperson declined to comment. An email sent to an Avendus spokesperson did not elicit a response.