tatas-latest-billion-buck-buy

Tata's latest billion buck buy

The latest cross border M&A deal by IndiaÆs Tata group surprises observers by having Tata Chemicals, not Tata Motors, in the driver's seat.
Tata Chemicals announced yesterday a deal to acquire US-based chemical firm General Chemical Industrial Products for $1 billion.

General Chemical is a soda ash producer with a capacity of 2.5 million tonnes per annum at its manufacturing facilities at the Green River Basin in Wyoming. Details of how Tata Chemicals intends to finance the acquisition weren't disclosed in the company's stock exchange filing.

Demand for soda ash, which is used for making soaps, detergents and as an input into other chemicals, is increasing in Asia as domestic consumption drives demand. Tata Chemicals has already made one overseas acquisition - the Brunner Mond Group in the UK - and the latest deal is another attempt...
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