Tata Chemicals Approves Disposal of Phosphatic Fertilisers Business
The Board of Directors of Tata Chemicals recently approved the sale, disposal and transfer of Phosphatic Fertilisers business and the Trading business comprising of bulk and non-bulk fertilisers(Divestment Business), by way of a slump sale on a going concern basis, by the company to IRC Agrochemicals Private Limited (IRC), a wholly owned subsidiary of Indorama Holdings BV, Netherlands(Part of Indorama Corporation Pte Ltd, Singapore 'Indorama') on the terms and conditions laid down in the Business Transfer Agreement(BTA), for a lump sum consideration of 375 crores subject to certain usual adjustments after closing as agreed between the parties in terms of the BTA