Tata Chemicals sells urea business to European company

Tata Chemicals said it sold its urea business to Europe-based Yara for Rs 2670 crore.

Yara sells farmers’ products.

Tata Chemicals will continue to own the brands Paras, TKS and Daksha. This transaction
does not include specialty products and complex fertilisers, the company added.

”This process of divestment by Tata Chemicals Limited is in line with the strategic direction of the company to continue to strengthen the Fertiliser businesses by partnerships and/or transfer of ownership to world class companies.The Urea business will now have the benefit of International network of Yara and its global expertise,” the company said.

The Urea Business along with the assets, liabilities, contracts, deeds etc., shall be transferred and vested with Yara India pursuant to the Scheme becoming effective on a slump sale basis i.e., in exchange of a lump sum consideration to be paid by Yara India to the Company, on the terms and conditions as agreed between by the company and Yara

The investment of the Urea Business by Tata Chemicals will unlock value for the Company, strengthen its Balance Sheet and will help to pursue growth potentials and opportunities in line with its strategic directions, Tata said.

“This process of divestment by Tata Chemicals Limited is in line with the strategic direction of the company to continue to strengthen the Fertiliser businesses by partnerships and/or transfer of ownership to world class companies.”



Idea Cellular – Vodafone merger announcement soon? Idea Spectrum HoldingIdea Cellular has put off the trimonthly meeting of its board of directors scheduled to take place tomorrow, raising speculation that it may soon announce a merger or deal with Vodafone India.The meeting was supposed to take on-board results  of the telecom operators' working the three months from October to December.After t...
Tata Steel acquires Brahmani River Pellets at Rs 900 cr EV Tata Steel Limited said that it has executed definitive agreements to acquire 100% equity shares of Brahmani River Pellets Limited (BRPL) from Aryan Mining and Trading Corpn Private Limited (AMTC) and other companies in the Moorgate Industries Group (MIG).The transaction is based on an enterprise value of Rs. 900 crores plus closing adjustments and ...
Reliance Communications sells its towers to Brookfield for $1.6 bln Reliance Communications Ltd announced the signing of binding agreements with Brookfield Infrastructure for the sale of nationwide tower assets to Brookfield Infrastructure Partners LP and its institutional partners.RCOM will receive an upfront cash payment of Rs. 11,000 crore (US$ 1.6 billion).RCOM will also receive Class B non-voting shares in t...
Cipla redraws Iran plans with new agreement, to invest Rs 121 cr Cipla said its wholly owned subsidiary of the Company in Netherlands will set up a 75% joint venture with Ahran Tejarat Company for manufacturing and marketing of pharmaceutical products in Iran.An earlier agreement executed by the Company with the Iranian firm has been terminated.The total investment will be euro 16.875 million, which comes to about...
Anil Ambani’s Reliance Infra sells transmission assets to Adani Following on the heels of its announcement to sell its transmission assets to Adani Group, Reliance Infrastructure today said it has signed a share purchase agreement with Adani Transmission for the sale of 100% of its Western Region System Strengthening Scheme Transmission Assets."SPA for Parbati Koldam Transmission Company Limited (PKTCL) shall be exe...
FULL TEXT: Ratan Tata’s statement on Demonetization Ratan Tata courtsey:tata.comRatan Tata, one of the most respected business figures in India and the chairman of Tata Trusts, has drawn attention to the practical difficulties faced by ordinary citizens in dealing with the ongoing currency exchange program.Tata, who was one of the first business leaders to extend a hand of friendship to Narendra Modi...
Anil Ambani Group sells 2 TV channels, 59 FM stations to Zee Subash Chandra's Zee Group is buying the general entertainment channels and FM radio business of the Anil Ambani group.Because of lock-in provisions, the acquisition of 59 FM radio licenses will be done in two stages.The FM channels are being broadcast under the brand “92.7 BIG FM”, reaching to 45 cities, 1200 towns and over 200 million people.It...
Anil Ambani group sells Big Magic, Ganga to Zee Entertainment Zee Entertainment Enterprises said it is acquiring the General Entertainment Broadcasting Business of Reliance Big Broadcasting Private Limited, Big Magic Limited & Azalia Broadcast Private Limited, all part of Anil Ambani led Reliance Group.The TV Broadcasting business of Reliance Group Entities currently comprises two operational general entertainm...
Bharti Airtel merges Bangladesh unit with Robi Axiata Bharti Airtel Limited announced the completion of the merger of its subsidiary Airtel Bangladesh with Robi Axiata Limited (Robi Axiata), a unit of Axiata Group Berhad. The merger was completed following the fulfilment of the condition precedents to the Agreement and filing of the merger order with the Registrar of Joint Stock Companies and Firms of Bangl...
Future Retail to pay Rs 273 cr in stock for Heritage Foods’ retail biz Heritage Foods Ltd said it agreed to sell its food retail business to Future Retail Ltd in return for shares in the Kishore Biyani firm.The businesses covered by the deal are grocery and food retail, agricultural sourcing, processing and marketing, and bakery.As part of the deal, Future Retail will issue about 1.80 cr shares to the shareholders of He...
Reliance Communications to sell towers to Brookfied Anil Ambani-promoted Reliance Communications has agreed to sell its tower assets to Brookfield Asset Management. RCOM will receive an upfront cash payment of Rs. 11,000 crore from the proposed transaction.It has signed a non-binding Term Sheet with Brookfield Infrastructure Group in relation to RCOM’s nationwide tower assets and related infrastructure. ...
RCom gets Bombay High Court approval for MTS merger Reliance Communications said its merger with Sistema Shyam Teleservices has been approved by the Bombay High Court.The Anil Ambani company is merging with SSTL, which operates telecom services under the MTS brand in India.After the merger, RCom shareholders will hold 90% of the resulting entity, with the remaining held by MTS.After this merger, t...
Intex enters mobile wallet business in tie-up with Tata Teleservices Intex Technologies, one of the leading Indian handset player said it has partnered with Tata Teleservices subsidiary mRUPEE to launch their first ever mobile wallet.The mobile wallet, named ‘Intex MyWallet’, will include quick integrated payment functionalities and conveniences within the device related to recharge, money transfer, shopping, booking trai...
Cognizant to help transform Future Group’s consumer business Cognizant said that it has entered into a partnership with Future Group, an Indian multi-brand retailer, to transform its consumer goods business, Future Consumer Limited (FCL), into a connected enterprise.“In an era where data, insights and supply chain intelligence are crucial ingredients for turning success into market leadership, Cognizant’s technolo...
Reliance Infra sells 100% stake in transmission business to Adani Group Reliance Infrastructure Limited today said it agreed to sell all itstransmission assets to Adani Transmission Limited, the largest private power transmission company operating in India.This acquisition is expected to be completed in current financial year.The entire sale proceeds shall be utilized for debt reduction, said the company.The transact...