India's Aditya Birla Group on Monday said it has agreed to buy U.S.-based Columbian Chemicals for $875 million, doubling its capacity and boosting its position to the largest carbon black manufacturer in the world. The acquisition, through three units, will give the diversified Indian group access to markets in North America, Canada, Brazil, Germany, Italy and China, Chairman Kumar Managalam Birla said at a press conference. The deal, to be completed in six months, will yield synergies of about $50 million, he said.
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