India’s Tata group is in talks to acquire the battery materials business of UK-based Johnson Matthey in a transaction that could accelerate the conglomerate’s push into the fast-growing electric vehicle market, Mint reported, citing two unidentified officials aware of the plan.
Tata group firm Tata Chemicals is a frontrunner in the race to buy the business from Johnson Matthey, the report said, adding that the business may be valued at about $700 million.
Read the full report: Mint.
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