Yara Agrees to Purchase Tata Chemicals' Babrala Urea Business for $400-Million

摘要

New Delhi— Yara International has entered into an agreement to acquire Tata Chemicals Ltd.'s (TCL) Babrala urea plant and distribution business in Uttar Pradesh, India, for $400-million, on a debt and cash free basis. The plant has an annual production capacity of 700,000 tons of ammonia and 1.2-million ton of urea. The transaction is subject to regulatory approvals and sanctioning by the relevant courts in India, which is expected to take between nine and 12 months, after which closing will occur.