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Tata Chemicals' subsidiary secures North American customer contracts through Searles Valley Minerals acquisition for Rs 158.47 crore

(29-Aug-26   08:47)

Tata Chemicals Limited announced that its wholly-owned subsidiary, Tata Chemicals North America Inc. (TCNA), has been declared the successful bidder in the Chapter 11 bankruptcy proceedings of Searles Valley Minerals Inc. (SVM) in the USA, securing North American soda ash customer contracts representing over half a million metric tons of orders through December 2028. This acquisition, facilitated through an Assignment and Assumption Agreement (ASA) with SVM, strengthens TCNA's customer portfolio and supports long-term value creation, with an aggregate cash consideration of USD 21.16 million. The United States Bankruptcy Court for the District of Delaware has approved the assignment, which is subject to customary closing conditions, and does not constitute a related party transaction for Tata Chemicals.