Tata Chemicals in advanced talks for Archean's industrial salt unit

A potential deal could offer a reprieve to Archean, which has been struggling to service its debt obligations for the past two years

Tata Chemicals Ltd. is in advanced talks to acquire the industrial salt unit of Archean Group that could value the business at 4.5 billion rupees ($61 million) at a minimum, according to people familiar with the matter.

The board of Tata Chemicals is set to discuss the potential offer as soon as this month, said the people, who asked not to be identified as the information is private. Negotiations are ongoing and could still fall apart, the people said.

A representative for Archean declined to comment, while a representative for Tata Chemicals didn’t provide any immediate comment.

A potential deal could