Tata Chemicals receives shareholders' approval for sale of Haldia unit

11 Jan 2018

Tata Chemicals has received approval from majority of shareholders for sale of its Haldia fertiliser unit in West Bengal to Netherlands-based Indorama Holdings BV for Rs 375 crore. The company had sought approval from the shareholders through a special resolution.

Earlier, the board had already approved the sale of the Phosphatic fertiliser business by way of slump sale on a going concern basis to IRC Agrochemicals, a wholly-owned subsidiary of Indorama Holdings BV.

Tata Chemicals is the second-largest producer of soda ash in the world with manufacturing facilities in India, UK, Kenya and USA. It is India’s leading crop nutrients player and a leading player in crop protection business through its subsidiary Rallis India.



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