Indo Gulf Fertilizers is a part of Grasim Industries Ltd. Indorama will acquire the business as a going concern on a slump sale basis, as per a notice filed with the watchdog. Commission approves acquisition of Indo Gulf Fertilizers (fertilizer business division of Grasim Industries Limited) by Indorama India Private Limited, the fair trade regulator said in a tweet. Indorama is engaged in manufacture, trading and sale of fertilisers, primarily, phosphatic fertilisers and speciality plant nutrients. Grasim Industries Ltd is into production of viscose staple fibre, textiles and insulators, among others.
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Aditya Birla Group’s Grasim to enter paints business with Rs 5,000 crore investment
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Synopsis
“The foray into paints is a strategic portfolio choice for Grasim as it looks to identify new growth engines,” said Kumar Mangalam Birla, Chairman, Aditya Birla Group in a media statement on Friday. The Company will be looking to invest in businesses that have the potential to be a leader in their addressable markets, have the ability to achieve scale, and generate consistent and attractive returns in the long term, Kumar Mangalam Birla, Chairman, Aditya Birla Group said.
Grasim Industries to foray into the paints business with an initial capital expenditure of Rs 5,000 crore over the next 3 years. The Company believes that this sector is likely to be value accretive to its stakeholders.