The Tata group is moving from strength to strength in the UK. This week, Tata Chemicals' European subsidiary Brunner Mond acquired Cheshire Salt Holdings, the parent company of British Salt, from its current owners LDC, the private equity arm of the British Banking group Lloyds.
The deal is valued at £93 million (about Rs 650 crore) and will be fully financed by debt on a non-recourse basis to Tata Chemical.
As far as Brunner Mond is concerned, it was acquired by Tata Chemicals Limited in February 2006 through its wholly owned subsidiary Homefield Pvt UK Limited.
Some of UK's well-known brands are a part of Tata, including Tetley, Corus, Jaguar, Land Rover and Taj Hotels. Tata companies operate in six business sectors in the UK, namely;
- · Information Technology and Communications
- · Engineering products and services
- · Materials
- · Services
- · Consumer Products
- · Chemicals
For the details in each sector, click here.
The Tata Group’s continued presence and dominance in the United Kingdom came to light when Ratan Tata, the chairman of the salt-to-software Tata Group, was invited in October this year, to be a part of a 19-member group of executives that will assist the UK government in preparing business strategies and highlight priorities for the British economy.
About of British Salt
British Salt Limited is a United Kingdom-based chemical company that produces pure white salt. It is based in Middlewich, Cheshire, employs 125 people, and produces approximately 800,000 tonnes of pure white salt every year.
It has changed hands a few times over the last decade. The previous owners, LDC bought British Salt from, US Salt Holdings LLC in 2007, investing £35m in the company. A management team had taken a minority stake. Further, US Salt itself had bought British Salt from its previous owners, Stavely Industries plc in 2000 for £80m.
No comments:
Post a Comment