Tata Chemicals rose 3.99% to Rs 543.70, following the media report that the Tata Group company is in advanced talks to acquire the industrial salt unit of Archean Group.The media reported that Tata Chemicals is in advanced talks to acquire the industrial salt unit of Archean Group that could value the business at Rs 450 crore ($61 million) at a minimum. The board of Tata Chemicals is set to discuss the potential offer as soon as this month, the report added.
The BSE has sought clarification from Tata Chemicals on 13 January 2021, with reference to a media report. The reply is awaited.
Archean Group is a privately held business conglomerate, with diversified business interests across sectors including industrial salt, industrial chemicals & fertilizers, mining & minerals and granites. operations and strategic investments are spread across India, South America, Middle East, Africa, Far East and South East Asia.