Tata explores $1 billion sale of US soda ash unit

Tata Chemicals Ltd. is considering selling its soda ash business in the U.S., according to people familiar with the matter, joining a string of rivals looking at similar options.

The India-based chemicals giant is in early discussions about the disposal, the people said, asking not to be identified discussing confidential information. It’s seeking $1 billion or more for the asset, the people said. Tata Chemicals has reached out to private equity firms and some industry groups to gauge interest, one of the people said.

Deliberations are ongoing and Tata Chemicals could still decide against a sale, according to the people. A representative for Tata Chemicals declined to comment.