For acquisition of Unnati Inorganics' undertaking of precipitated silica operation
Tata Chemicals announced that the Company in May 2017 had entered into a business transfer agreement with Unnati Inorganics, located at Dahej, Gujarat to acquire their undertaking of precipitated silica operation, on a slump sale basis, for a consideration of Rs. 34.20 crore. In this regard, Tata Chemicals has cancelled the transaction in view of the non-fulfilment of certain condition precedents set out in the Agreement.The above decision does not affect the execution of the project with an investment of Rs. 295 crore for manufacturing of precipitated highly dispersible silica as approved by the Board of Directors of the Company and informed to the Exchanges vide its letter dated 09 February 2017 which is on track.
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