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Tata Chemicals’ arm enters into definitive agreement with Rademan Janse van Rensburg

16 Feb 2016 Evaluate

Tata Chemicals’ wholly owned subsidiary -- Bio Energy Venture - 1 (Mauritius), has entered into a definitive agreement with Rademan Janse van Rensburg for sale of its entire stake in Grown Energy Zambeze Holdings, Mauritius (GEZ Mauritius) for a consideration of $ 5.5 million subject to fulfilment of certain condition precedents laid down in the agreement. As per the Agreement, the Purchaser will discharge the above consideration on deferred payment basis over a period of 5 years ending on December 31, 2020.

GEZ Mauritius is the holding company of Grown Energy Zambeze Limitada (GEZ Ltda), which owns the company’s biofuel assets in Mozambique. The company, through its subsidiaries, owns a 95% stake in GEZ Ltda. The Purchaser, one of the founder members of GEZ Ltda has been a shareholder since inception and currently holds the balance 5% ownership in GEZ Ltda. along with another investor.

Tata Chemicals is the world’s second largest producer of soda ash with manufacturing facilities in Asia, Europe, Africa and North America. The company’s industry essentials product range provides key ingredients to some of the world’s largest manufacturers of glass, detergents and other industrial products.

Tata Chemicals Share Price

719.40 -1.75 (-0.24%)
05-Jun-2026 16:59 View Price Chart
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