Friday, September 21, 2018
facebook

google plus
Business

Posted at: Jan 13, 2018, 12:55 AM; last updated: Jan 13, 2018, 12:55 AM (IST)

Yara buys out Tata Chemicals’ urea biz

New Delhi: Yara International on Friday announced the completion of its acquisition of the Tata Chemicals’ urea business for Rs 2,682 crore. The deal includes transfer of all assets and liabilities relating to the Babrala plant in Uttar Pradesh. It is the first FDI in the urea sector.  With this buyout, Yara gains a significant position in the North India, with access to a strong network of 650-700 dealers. It will enable the company to provide enhanced crop nutrition solutions to farmers in North which has 31 million hectares of grain and 4 million hectares of horticulture crops. Yara’s turnover which is currently around $40 million in India will increase to $350 million. TNS

COMMENTS

All readers are invited to post comments responsibly. Any messages with foul language or inciting hatred will be deleted. Comments with all capital letters will also be deleted. Readers are encouraged to flag the comments they feel are inappropriate.
The views expressed in the Comments section are of the individuals writing the post. The Tribune does not endorse or support the views in these posts in any manner.
Share On