Nirma in talks with US-based FMC Corp for buying soda ash assets:ET
November 26, 2014
Mumbai, 25 November 2014
According to a report in Economic Times, Karsanbhai Patel’s Nirma is in talks with NYSE-listed FMC Corp for buying their soda ash assets worth $1.5 bn. FMC Corp has appointed Bank of America Merrill Lynch and Goldman Sachs for the sale process.Nirma had bought Searles Valley Minerals (SVM) in 2007 which has three soda ash manufacturing facilities in California. Soda ash is a key ingredient for soap & detergent manufacturers.Nirma de-listed from the stock exchanges in 2012.
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