ALSO READWhen govt enters the boardroom Individual insolvency regime to be operational in phased manner Safeguards must at Tata Group for minority shareholders: Cyrus Mistry Tata Steel to raise Rs 12,800 cr to fuel growth strategy Relief for Coal India as NCLAT stays two competition commission orders
Tata Chemicals has completed the sale of its urea and customised fertilisers business to Yara Fertilisers India Pvt Ltd for Rs 26.82 billion. "The sale and transfer of urea and customised fertilisers business to Yara as contemplated in the scheme of arrangement has been completed on Friday after the receipt of requisite regulatory approvals, fulfilment of conditions precedent and sanction of the National Company Law Tribunal, Mumbai," Tata Chemicals said in a BSE filing. The company has received the consideration of Rs 26.82 billion (subject to post completion working capital adjustments) from Yara on January 12, 2018, it added. In August 2016, Tata Chemicals announced sale of its urea business to Yara.Shares of Tata Chemicals were trading 0.54 per cent up at Rs 775.05 per scrip on BSE.