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Tata Chemicals exits urea biz for Rs 2,670 cr

Says it is open to evaluating options in potash business

Amritha Pillay  |  Mumbai 

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Tata Chemicals on Wednesday announced the sale of its urea business to Norway’s fertiliser and chemicals major Yara for about Rs 2,670 crore as a part of value-unlocking by the company. As part of the deal, Tata Chemicals will transfer its Babrala urea plant in Uttar Pradesh and related assets and employees to Yara’s Indian subsidiary Yara Fertilisers India.

Tata Chemicals said it would continue to own the brands Paras, TKS and Daksha, and the deal does not include speciality products and complex fertilisers. R Mukundan, managing director, Tata Chemicals, said, “The sale ...

First Published: Thu, August 11 2016. 00:59 IST

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