Mitsubishi Chemical sells majority stake in MCPI to The Chatterjee Group – Feedback

Japanese chemical major Mitsubishi Chemical Corporation (MCC) on Wednesday signed a share purchase agreement with The Chatterjee Group for sale of its majority stake in its Indian subsidiary MCC PTA India Corp Pvt Ltd (MCPI).

According to agreement, MCPI will retain a minority portion of shares to facilitate technical and operational support on mutually advantageous terms. “Mitsubishi Chemical Holdings Corporation (MCHC), the holding company of MCC, in its board meeting held on Wednesday in Tokyo passed a resolution to transfer controlling equity interest of MCC’s Purified Terephthalic Acid (PTA) manufacturing subsidiary in India, the MCPI,” said a MCPI statement. The MCHC Board has approved the transfer of majority shares held by MCC in MCPI to Purnendu Chatterjee led The Chatterjee Group, while retaining a minority portion, the statement said.

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