New Delhi, Jan 12 (PTI) Tata Chemicals has completed thesale of its urea and customised fertilisers business to YaraFertilisers India Pvt Ltd for Rs 2,682 crore.
"The sale and transfer of urea and customised fertilisersbusiness to Yara as contemplated in the scheme of arrangementhas been completed today after the receipt of requisiteregulatory approvals, fulfilment of conditions precedent andsanction of the National Company Law Tribunal, Mumbai," TataChemicals said in a BSE filing.
The company has received the consideration of Rs 2,682crore (subject to post completion working capital adjustments)from Yara on January 12, 2018, it added.
In August 2016, Tata Chemicals announced sale of its ureabusiness to Yara. The sale was part of the company's plans tostrengthen the fertiliser business by partnerships and/ortransfer of ownership to world-class companies.
Shares of Tata Chemicals were trading 0.54 per centup at Rs 775.05 per scrip on BSE. PTI SVKANU.
This is unedited, unformatted feed from the Press Trust of India wire.