Tata Chemicals to acquire US-based GCIP for $1,005 million

New Delhi, Jan 31:Tata Chemicals Ltd today said it has entered into definitive agreements to acquire a US-based chemical company, General Chemical Industrial Products Inc (GCIP), for 1,005 million dollars.

Harbinger Capital Partners is the majority owner of GCIP and the transaction is conditioned on the receipt of stockholder and other regulatory approvals, said Tata Chemicals in a statement.

GCIP is a significant Soda Ash producer in the USA with a capacity of 2.5 million TPA of Natural Soda Ash. GCIP has its manufacturing facilities located at Green River Basin in Wyoming, USA.

UNI