Tata Chemicals has merged Mauritius-based wholly-owned subsidiary Homefield International with itself. The company’s board of directors at its meeting held on February 8, 2013, approved the scheme of amalgamation. Further, the appointed date of the amalgamation scheme is April 1, 2013.
After the scheme comes into effect, the assets and liabilities of HIPL would be transferred and vested in Tata Chemicals and all shares of HIPL would stand cancelled. However, the scheme is subject to regulatory approvals in both India and Mauritius.
Tata Chemicals, part of the Tata Group, is a leading manufacturer of chemicals, fertiliser and food additives. Meanwhile, HIPL’s principal activity is to hold investments.
