Coromandel International and Soquimich European Holdings BV (SQM) have executed a Share Purchase Agreement (SPA) for 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 SQM, for a consideration of Rs 12 crore. On completion of the customary closing formalities and transfer of the shares in the name of the Company, which is planned to be completed before July 31, 2020, CSQM would become a wholly owned subsidiary of the Company.
Coromandel International is engaged in the manufacturing of fertilizers, plant protection chemicals and speciality nutrients.
