Tata Chemical's UK subsidiary has acquired British Salt, a pure dried vaccum
salt products manufacturer.
The company through its subsidiary Brunner Mond on 20 December 2010 signed a
binding agreement to acquire 100 per cent stake in British Salt. The acquisition
is valued at Pound 93 million (approx Rs 660 crore). The deal is likely to be
closed within the next 30-35 days. The acquisition is funded through debt
finance against the assets, on a non-recourse basis by Tata Chemicals.
British Salt owns brine wells (saturated water, with large amounts of a salt)
in the UK, with a residual life of 50 years. The acquisition provides an
opportunity to secure long-term brine supplies to Brunner Mond. British Salt's
units are at Cheshire in Middlewich. It can produce 720,000 tpa of salt
products.