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Tata's Latest Billion-Buck Buy

The latest cross border M&A deal by the Indian conglomerate surprises observers by having Tata Chemicals, not Tata Motors, in the driver's seat

Tata Chemicals announced yesterday a deal to acquire US-based chemical firm General Chemical Industrial Products for $1 billion.

General Chemical is a soda ash producer with a capacity of 2.5 million tonnes per annum at its manufacturing facilities at the Green River Basin in Wyoming. Details of how Tata Chemicals intends to finance the acquisition weren't disclosed in the company's stock exchange filing.