 "Tata Chemicals completes sale of urea biz to Yara Fertilisers for Rs 27 bn")
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. The sale was part of the company's plans to strengthen the fertiliser business by partnerships and/or transfer of ownership to world-class companies.
Shares of Tata Chemicals were trading 0.54 per cent up at Rs 775.05 per scrip on BSE.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%