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Grasim is likely to sell its fertiliser business Indo Gulf to SABIC, Saudi Arabia, for approx Rs.3,200 crore.
As per the report, SABIC has been the highest bidder of the fertiliser business, and Grasim and Saudi Arabian company were already in talks for the same.
Further, Grasim is already keen to exit the low margin and highly regulated business. Indo Gulf was a division of Aditya Birla Nuvo,which got merged into Grasim Industries and Kumar Managlam Birla is eager to focus primarily on key sectors
