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Tata Chemicals to absorb investment subsidiary

4:13 AM MST | February 13, 2013 | Francinia Protti-Alvarez

Tata Chemicals' (Mumbai) plan to absorb its Homefield International (Mauritius) subsidiary was approved by the Tata Chemicals board on 8 February, Tata says in a statement to the Bombay stock exchange. The expected date of completion is 1 April. The transaction remains subject to regulatory approvals from the Indian and Mauritian authorities. Following the merger, all assets and liabilities of Homefield will be transferred to and vested in Tata Chemicals and all shares of Homefield will be canceled. No Tata shares will be issued and allotted in lieu or...

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