TATA CHEMICALS LTD.

TATA CHEMICALS LTD. - Updates

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06 Nov 2017
The Board of Directors of the Company at their meeting held on 6th November, 2017 has approved the sale, disposal and transfer of Phosphatic Fertilisers business and the Trading business comprising of bulk and non-bulk fertilisers ('Divestment Business'), by way of a slump sale on a going concern basis, by the Company to IRC Agrochemicals Private Limited ('IRC'), a wholly owned subsidiary of Indorama Holdings BV, Netherlands (Part of Indorama Corporation Pte Ltd, Singapore 'Indorama') on the terms and conditions laid down in the Business Transfer Agreement ('BTA'), for a lump sum consideration of Rs. 375 crores subject to certain usual adjustments after closing as agreed between the parties in terms of the BTA. <BR> <BR> The transaction would involve transfer of Haldia Plant, Trading Business of bulk and non-bulk fertilisers along with immovable, movable properties, working capital and product brands but excluding outstanding subsidy amounts.<BR> <BR> Please refer attachment for the details.<BR>
View all announcements for TATA CHEMICALS LTD.	Source: BSE India

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