Coromandel International has acquired an additional 446,192 equity shares representing 14.89% of the equity capital of Liberty Urvarak (LUL) on March 28, 2013. Consequently, the company has acquired 100% equity shares of LUL. The company had earlier acquired 2,551,360 equity shares representing 85.11% of the equity capital of LUL from the shareholders of LUL on March 20, 2013, pursuant to a Share Purchase Agreement.
Coromandel International is the country’s second-largest phosphatic fertilizer player. Its crop protection business produces insecticides, fungicides and herbicides and markets these products in India and across the globe. The firm has also ventured into the retail business, setting up more than 640 rural retail centres in Andhra Pradesh and Karnataka.
