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Aditya Birla Buys Columbian Chemicals for $875 million
7:15 AM MST | January 31, 2011 | Natasha Alperowicz
Aditya Birla Group (Mumbai) says it has signed a definitive agreement to buy Columbian Chemicals Co. (Marietta, GA) from One Equity Partners, the merchant banking arm of J.P. Morgan Chase & Co. for $875 million. Columbian Chemicals is the world's third largest maker of carbon black behind Cabot Corporation and Evonik Industries. Aditya Birla, controlled by Indian billionaire Kumar Mangalam Birla, is the fourth largest maker of carbon black, used in tires, dyes and paints. The acquisition will double Aditya's capacity to 2 million m.t./year...
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