Tata Chemicals to acquire General Chemical Industrial Products Inc for US$ 1005 Million

Tata Chemicals Ltd has announced that the Company has entered into definitive agreements to acquire General Chemical Industrial Products Inc. (GCIP), a US based chemical Company for US$ 1,005 million. Harbinger Capital Partners is the majority owner of GCIP. The transaction is conditioned on the receipt of stockholder and other regulatory approvals.

GCIP is a significant Soda Ash producer in the USA with a capacity of 2.5 million TPA of Natural Soda Ash. GCIP has its manufacturing facilities located at Green River Basin in Wyoming, USA.

The stock was trading at Rs.341, up by Rs.12.10 or 3.68%. The stock hit an intraday high of Rs.347 and low of Rs.311.

The total traded quantity was 159225 compared to 2 week average of 213396.

Source : Equity Bulls

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