Aditya Birla to buy Columbian Chemicals - confirmed

ERJ staff report (DS)

Mumbai, India-- Aditya Birla Group has entered into

a definitive agreement to acquire the Atlanta-based Columbian

Chemicals Company, from One Equity Partners, the merchant banking

arm of J. P. Morgan Chase & Co. .

The Aditya

Birla Group has bought One Equity Partners' equity in

Columbian Chemicals through its associates, Alexandria Carbon

Black Company and Thai Carbon Black Company Limited along

with SKI Investment, an Aditya Birla Group Company.

The acquisition is subject to customary approvals. The deal is expected to attain closure in the second half of CY-11.

“Our vision has been to be a premium carbon black player, global in size and reach. The acquisition of Columbian Chemicals, which takes us closer to our vision, is a perfect fit for Birla Carbon. Their assets and the expertise of the team will provide a stronger platform for higher growth and ongoing success”," said Kumar Mangalam Birla, Chairman, Aditya Birla Group

Local reports said the purchase price is about $875 million

Aditya Birla is also bidding for the Degussa carbon black business being sold by Evonik.

This is an external link and should open in a new window. If the window does not appear, please check your pop-up blocking software. ERJ is not responsible for the content of external sites.

Press release from Aditya Birla

Press release listing from Columbian Chemical

Bombay Stock Exchange announcements from Aditya Birla

One Equity Partners website

Aditya Birla Group To Acquire Columbian Chemicals Company

Dow Jones via Nasdaq (US)

News Roundup: AVB To Buy Columbian Chemicals For $800M

Venture Capital Circle (India)

Aditya Birla Group Agrees to Buy Columbian Chemicals

Bloomberg (India)