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Tata Chemicals sells urea business to Yara for Rs 2,670 cr

The urea business will now have the benefit of international network of Yara and its global expertise

Dev Chatterjee  |  Mumbai 

(From left to right) R Mukundan, Managing Director, Tata Chemicals and Terje Knutsen. Senior VP and Head of Crop Nutrition, in Mumbai (Pic: Suryakant Niwate)
(From left to right) R Mukundan, Managing Director, Tata Chemicals and Terje Knutsen. Senior VP and Head of Crop Nutrition, in Mumbai (Pic: Suryakant Niwate)

said it will sell its business to for Rs 2670 crore  as part of value unlocking by the company.

In a statement to the stock exchanges today, said it would continue to own the brands – Paras, TKS and Daksha and the deal does not include specialty products and complex fertilisers.

The company’s shares were trading 6 per cent up  at Rs 492 a share. 

Founded in 1905 in Europe, Yara has worldwide presence with 13,000 employees and in 150 countries.

said the divestment is in line with the strategic direction of the company to continue to strengthen the fertiliser businesses by partnerships and transfer of ownership to world class The business will now have the benefit of international network of Yara and its global expertise.

R. Mukundan MD, said the sale marks a decisive move on the part of the company to move forward on its strategy to build consumer business while maintaining leadership in Inorganic chemicals Business and focusing the farm business through its subsidiary and The company is pleased to have found a strong partner to parent its business.

Kotak Investment Banking and JM Financial Institutional Securities Ltd were transaction advisors to Tata Chemicals, while Deloitte Touche Tohmatsu India LLP acted as Financial & Tax Advisors. AZB & Partners was Legal Advisor for the deal.

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Tata Chemicals sells urea business to Yara for Rs 2,670 cr

The urea business will now have the benefit of international network of Yara and its global expertise

The urea business will now have the benefit of international network of Yara and its global expertise
said it will sell its business to for Rs 2670 crore  as part of value unlocking by the company.

In a statement to the stock exchanges today, said it would continue to own the brands – Paras, TKS and Daksha and the deal does not include specialty products and complex fertilisers.

The company’s shares were trading 6 per cent up  at Rs 492 a share. 

Founded in 1905 in Europe, Yara has worldwide presence with 13,000 employees and in 150 countries.

said the divestment is in line with the strategic direction of the company to continue to strengthen the fertiliser businesses by partnerships and transfer of ownership to world class The business will now have the benefit of international network of Yara and its global expertise.

R. Mukundan MD, said the sale marks a decisive move on the part of the company to move forward on its strategy to build consumer business while maintaining leadership in Inorganic chemicals Business and focusing the farm business through its subsidiary and The company is pleased to have found a strong partner to parent its business.

Kotak Investment Banking and JM Financial Institutional Securities Ltd were transaction advisors to Tata Chemicals, while Deloitte Touche Tohmatsu India LLP acted as Financial & Tax Advisors. AZB & Partners was Legal Advisor for the deal.

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Business Standard
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Tata Chemicals sells urea business to Yara for Rs 2,670 cr

The urea business will now have the benefit of international network of Yara and its global expertise

said it will sell its business to for Rs 2670 crore  as part of value unlocking by the company.

In a statement to the stock exchanges today, said it would continue to own the brands – Paras, TKS and Daksha and the deal does not include specialty products and complex fertilisers.

The company’s shares were trading 6 per cent up  at Rs 492 a share. 

Founded in 1905 in Europe, Yara has worldwide presence with 13,000 employees and in 150 countries.

said the divestment is in line with the strategic direction of the company to continue to strengthen the fertiliser businesses by partnerships and transfer of ownership to world class The business will now have the benefit of international network of Yara and its global expertise.

R. Mukundan MD, said the sale marks a decisive move on the part of the company to move forward on its strategy to build consumer business while maintaining leadership in Inorganic chemicals Business and focusing the farm business through its subsidiary and The company is pleased to have found a strong partner to parent its business.

Kotak Investment Banking and JM Financial Institutional Securities Ltd were transaction advisors to Tata Chemicals, while Deloitte Touche Tohmatsu India LLP acted as Financial & Tax Advisors. AZB & Partners was Legal Advisor for the deal.

image
Business Standard
177 22