Tata Chemicals gets shareholders’ nod for Haldia unit sale
New Delhi: Tata Chemicals on Wednesday said it has received approval from majority shareholders for sale of its Haldia fertiliser unit in West Bengal to Netherlands-based Indorama Holdings BV for Rs375 crore.
The company had sought approval from the shareholders through a special resolution. “We wish to inform you that the aforesaid resolution has been passed by the members of the company with requisite majority with effect from January 10, 2018, being the last date of voting,” Tata Chemicals said in a regulatory filing.
The company said 1,829 members voted in favour of the sale, while 90 of them were against the resolution. The votes of 112 members were invalid. Tata Chemicals’ board has already approved the sale of the Phosphatic fertiliser business by way of slump sale on a going concern basis to IRC Agrochemicals, a wholly-owned subsidiary of Indorama Holdings BV.