You are here: Home » PTI Stories » National » News
Business Standard

CCI clears Tata Chemicals-Yara Fertilisers deal

Press Trust of India  |  New Delhi 

The Competition Commission has approved the proposed of urea and customised fertilisers business of by Norway's Yara Fertilisers.

Under the deal, will sell its urea plant in Babrala, Uttar Pradesh, which has an annual capacity of about 1.2 million tonnes for an estimated Rs 2,670 crore.

In a tweet, the Competition Commission of (CCI) said it has cleared "of Babrala unit of Ltd by Yara India".

As per the announcement made by in August, it will transfer the business of sale and distribution of urea and customised fertilisers, manufactured in Babrala, UP, by way of a slump sale to Yara Fertilisers.

The urea business, along with the assets, liabilities and contracts, among others, will be transferred to Yara

Mergers and acquisitions beyond a certain threshold requires the approval of CCI, which keeps a tab on unfair business practices across sectors.

Yara is a 100 per cent subsidiary of Yara Asia Pte. is part of the diversified Tata group.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sun, November 27 2016. 18:02 IST