Nirma Indian detergent manufacturer plans buy FMC’s soda ash assets

Indian detergent manufacturer, Nirma plans to buy FMC’s soda ash assets

7:20 AM, 1st December 2014
Nirma Indian detergent manufacturer plans to buy FMC’s soda ash assets

AHMEDABAD, INDIA: Nirma, an Indian detergent manufacturer, is eyeing a big acquisition in the US Sources suggest that Nirma is in talks with New York Stock Exchange (NYSE) - listed FMC Corp for buying their soda ash assets worth $1.5 billion. FMC Corp has appointed Bank of America Merrill Lynch and Goldman Sachs for the sale process, a direct source in the US said.

Sources suggest that Nirma is keen on the buyout but may have to participate in an aggressive bid process if there is enough interest from global players to buy the soda ash assets of FMC Corp. As part of its global expansion strategy, Nirma had bought Searles Valley Minerals (SVM) in 2007 which has three soda ash manufacturing facilities in California.

According to an analyst, “the acquisition of FMC Corp’s assets will be a significant development for the soda ash industry and will ramp up Nirma’s soda ash capacity, which is a key ingredient for soap & detergent manufacturers.”

But the Industry experts also indicate, “a large deal worth $1.5 billion may be too large for Nirma to digest, especially, if there is a bid process.”

 

© The Economic Times News

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