Kanoria Chemicals & Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 16, 2011, inter alia, approved the divestiture of the Company's Chloro Chemicals Division, comprising of manufacturing facilities at Benukoot, Uttar Pradesh and Salt Works at Gujarat to Aditya Birla Chemicals (India) Limited for a cash consideration of Rs. 830 Crore (Rupees eight hundred thirty Crore only). The transaction will be done by way of slump sale of the business undertaking and is subject to the approval of the shareholders of the Company and other customary approvals.
The Company has submitted to BSE a copy of Press Release issued by the Company in this regard.Read More
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Sunday, April 17, 2011
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