Tata Chemicals through its wholly-owned subsidiary, Valley Holdings Inc, has acquired the remaining 25 per cent stake in Tata Chemicals (Soda Ash) Partners Holdings from its joint venture partner the Andover Group, Inc., a subsidiary of Owens-Illinois Incfor $195 million.
With this acquisition, Tata Chemicals has increased its ownership in Tata Chemicals (Soda Ash) Partners to 100 per cent. The joint venture company operates the soda ash plant at Green River, Wyoming in United States.
For the year ended March 2019, TCSAP had a turnover of $465.5 million and an EBITDA of $100.7 million.
“With this transaction Tata Chemicals will have full ownership of the North American business and will further simplify enterprise architecture” said R Mukundan, Managing Director, Tata Chemicals.
“The acquisition is expected to be EPS accretive. We will continue to invest in our Green River facility to meet market demand and serve our customers globally," he said.