A V Birla Group acquires Columbian Chemicals for USD 875 mn

Mumbai, Jan 31 (PTI) In view of increasing its carbonblack capabilities, the Aditya Birla Group today said it hasentered into an agreement to acquire the Atlanta-basedColumbian Chemicals Company for USD 875 million.

The acquisition of Columbian Chemicals catapults BirlaCarbon to become a leading player globally in this sector, byraising its annual production to two million tonnes. Birla''sacquisition will place it ahead of Cabot Corp and Germany''sunlisted chemical maker Evonik Industries, the two leadingproducers of the chemical.

The Aditya Birla Group has bought equity of One EquityPartners, the merchant banking arm of J P Morgan Chase