Jayshree Chemicals has received an approval for sale of the company’s Chlor Alkali business, comprising of manufacturing facilities at Ganjam, Odisha and Salt Works in Andhra Pradesh to Aditya Birla Chemicals (India) (ABCIL) for a cash consideration of Rs 212 crore. The board of directors at their meeting held on September 08, 2014 has approved for the same.
The transaction will be done by way of slump sale of the business undertaking and is subject to approvals of the shareholders of the company and other necessary approvals of various Government Agencies.
Jayshree Chemicals manufactures caustic soda, chlorine, hydrochloric acid, sodium hydrosulphite, sulphur dioxide and sulphuric acid.
