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Our Bureau

Mumbai, March 7

Tata Chemicals Ltd (TCL) today informed that it has acquired the balance shares constituting 36.5 per cent of the paid up capital of Brunner Mond Group Ltd (BMGL), UK.

The shares were acquired for a consideration of Rs 290 crore. This follows the mandatory offer for outstanding shares the company made since buying 63.5 per cent equity in BMGL for Rs 508 crore, through its wholly owned subsidiary, in December 2005.

"The total consideration paid amounts to Rs 800 crore," an official statement on TCL becoming 100 per cent owner of BMGL, said. The combined soda ash capacity of the two companies had been pegged at three million tonnes.

More Stories on : Mergers & Acquisitions | Chemicals | Tata Chemicals Ltd

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