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Tata Chem buys balance Brunner pie
for Rs 290 cr
Business Standard —
March 8, 2006
Tata Chemicals today announced that it had acquired the remaining
36.5 per cent of the paid-up capital in the Brunner Mond group
for Rs 290 crore through its wholly owned subsidiary. In December
2005, the company had acquired 63.5 per cent of the paid-up
capital from Wayland Investments and Barclays Bank for Rs
508 crore. At that time, Prasad Menon, managing director,
Tata Chemicals, had said the company would be making a mandatory
offer to other shareholders to acquire the balance stake.
Post acquisition, Tata Chemicals is the world's third largest
producer of soda ash after the Brussels-based Solvay and US-listed
FMC Corp, respectively. Prior to the acquisition, Tata Chemicals
had a soda ash capacity of 0.9 million tonne. Brunner Mond
has a capacity of 2 million tonne spread over four plants
is the second largest producer of soda ash in Europe and the
fifth largest globally. Prior to the acquisition, Tata Chemicals
had a presence in Asia and some countries in the Middle East.
The Brunner Mond acquisition, apart from expanding its presence
in Asia also gives it access to countries in Europe like Germany
and France as well as Africa. Last year, the company had also
picked up a 33 per cent stake in IMACID, Morocco.
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