This is in furtherance to our intimation dated 19th June, 2020, informing about In-Principle approval for sale of fertilizer plant at Goa to Paradeep Phosphates Limited, subject to approval of shareholders of the Company, other regulatory & statutory approvals and financial due-diligence.
In this regard we would like to inform you that the Board of Directors of the Company at its meeting held today i.e 22nd February, 2021, subject to the approval of shareholders and such other necessary approvals, consents, permissions and / or sanctions of the appropriate authorities, institutions or bodies as may be required, has approved the sale of Company's fertilizer plant at Goa and associated businesses of the Company to Paradeep Phosphates Limited (PPL) as a going concern, on a slump sale basis for an agreed enterprise value of USD 280 million as defined in the Business Transfer Agreement and for entering into necessary Business Transfer Agreement with PPL.