Coromandel International has received an approval for the acquisition of 50,00,000 equity shares of Rs 10 each constituting 50% of the total share capital of Coromandel SQM (India) (CSQM), a joint venture between the company and Soquimich European Holdings BV.
The proposed acquisition of shares would help in consolidating the shareholding of the company in CSQM. Post-acquisition, CSQM will become a wholly owned subsidiary of the company.
Coromandel International is engaged in the manufacturing of fertilizers, plant protection chemicals and speciality nutrients.
