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Tata Chemicals has ended the sale of its urea and customized fertilizers business to Yara Fertilizers India Pvt Ltd for Rs.2,682 crore.
In a BSE filing the company stated, “The sale and transfer of urea and customized fertilizers business to Yara as contemplated in the scheme of arrangement has been completed today after the receipt of requisite regulatory approvals, fulfillment of conditions precedent and sanction of the National Company Law Tribunal, Mumbai.”
Further, the company has received Rs.2,682 crore from Yara on January 12,2018 in consideration of the sale (subject to post completion working capital adjustments).
