Sub:Completion of Sale and Transfer of Urea and Customized Fertilisers Business to Yara Fertilisers India Private Limited ('Yara')- Reg 30 of LODR
We wish to inform you that the sale and transfer of Urea and Customized Fertilisers Business ('Divestment Business') to Yara as contemplated in the Scheme of Arrangement has been completed today i.e. January 12, 2018 after the receipt of requisite regulatory approvals, fulfillment of Conditions Precedent and sanction of the National Company Law Tribunal, Mumbai ('NCLT'). The Company has received the consideration of Rs. 2682 crores (subject to post completion working capital adjustments) from Yara on January 12, 2018.
Accordingly, the Certified Copy of the Order of NCLT sanctioning the Scheme has been filed electronically with the ROC/ MCA, on January 12, 2018. Thus, the Scheme has become effective from January 12, 2018 and the Divestment Business of the Company pursuant to the Scheme stands transferred to Yara effective the said date.