Moneycontrol PRO
Upcoming Event:Attend Quants League - 5 Days Live Algorithmic Options Trading Virtual Conference @ just Rs. 600/- brought to you by Moneycontrol Pro. Register Now!
you are here: HomeNewsBusiness

Tata Chemicals acquires remaining 25% of Tata Chem (Soda Ash) from Andover Group

With this acquisition, Tata Chemicals has increased its ownership in Tata Chemicals (Soda Ash) Partners to 100 percent, the company said in statement.

December 20, 2019 / 12:18 PM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Tata Chemicals has acquired the remaining 25 percent stake in Tata Chemicals (Soda Ash) Partners Holdings for USD million (approximately Rs 1,387.2 crore).

With this acquisition, Tata Chemicals has increased its ownership in Tata Chemicals (Soda Ash) Partners to 100 percent, the company said in statement.

"Tata Chemicals, through its wholly-owned subsidiary Valley Holdings Inc, has acquired the remaining 25 percent partnership interest in Tata Chemicals (Soda Ash) Partners Holdings from The Andover Group, a subsidiary of Owens-Illinois Inc. for USD 195 million," the company said.

"With this transaction Tata Chemicals will have full ownership of the North American business and will further simplify enterprise architecture," Tata Chemicals' Managing Director and CEO R Mukundan said.

The acquisition is expected to be earnings per share accretive. "We will continue to invest in our Green River facility to meet market demand and serve our customers globally," Mukundan said.

Close
The shares of Tata Chemicals were trading at Rs 664.90 apiece on BSE.
PTI
first published: Dec 20, 2019 12:07 pm

stay updated

Get Daily News on your Browser
Sections
ISO 27001 - BSI Assurance Mark