Tata Chemicals informs about company updates

01 Jun 2018

Tata Chemicals has informed that the Company has completed the sale and disposal of its Phosphatic Fertilisers business and the Trading business comprising bulk and non-bulk fertilisers (Divestment Business), by way of a slump sale on a going concern basis, to IRC Agrochemicals Private Limited (IRC) after the receipt of requisite regulatory approvals and fulfilment of Conditions Precedent as contemplated in the Business Transfer Agreement (BTA) dated November 6, 2017. The Company has received a consideration of Rs 872.84 crores (subject to usual post completion adjustments) from IRC today, i.e. June 1, 2018. The consideration includes Rs 572.76 crores in cash and the balance by way of letters of credit / bank guarantees. Subsidy receivables were not included in the transaction. Thus, on completion of the transaction, the Divestment Business of the Company pursuant to the BTA stands transferred to IRC effective June 1, 2018.

The above information is a part of company’s filings submitted to BSE.

Related Tata Chemicals Ltd. Links:

Tata Chemicals Share Price

676.95 -31.35 (-4.43%) May 06, 11:39
1 Year Price Chart
Company Name CMP
Tata Chemicals 676.95
Pidilite Inds. 1804.50
Aarti Inds 1763.90
Atul 8375.10
India Glycols 503.00
View more..
Sensex vs Tata Chemicals
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323