Indorama to acquire Indo Gulf Fertilisers from Grasim Industries for $356m.

Indorama, a chemical holding company, agreed to acquire Indo Gulf Fertilisers, a manufacturer of fertilisers, from Grasim Industries, a diversified manufacturing company, for $356m. The divestment of the Fertiliser Business is a significant value unlocking exercise for Grasim. It will further enable the Company to pursue growth opportunities in its core businesses. "We are pleased that with this acquisition, Shaktiman and the Paras brands will be able to join hands to offer a complete range of products for our farmers including urea, phosphate fertilisers, potash, soil health products, seeds, and crop protection products. We are excited about this union and believe it will facilitate greater access and development of high quality agri inputs for the farming community,” Amit Lohia, Indorama Vice Chairman.