Coromandel International has signed definitive agreements to acquire majority stake in NACL Industries (NACL). NACL is an India based Crop Protection player having strong branded formulation business in domestic markets, exports Technicals in key global geographies and has presence in contract manufacturing operations with global multinational agrochemical companies. The company is set to acquire 53% shareholding in NACL industries, for consideration of Rs 820 crore at Rs 76.7 price per share from the current promoter KLR Products. The company also proposes to make an open offer to the public to acquire upto 26% of the equity share capital of the company as per the SEBI Takeover Regulations. The proposed transaction is subject to regulatory approvals and is likely to be consummated over next few months.
The proposed acquisition will position Coromandel International as one of the leading players in the Indian Crop Protection industry with a wide range of technicals and pan India presence in domestic formulation business. This will also help in expanding Coromandel’s scale, accelerating its entry into contract manufacturing business, fast-tracking new product commercialization and expanding its product portfolio.
Coromandel International is amongst India's pioneers and leading Agri solutions provider, offering diverse products and services across the farming value chain.
| Company Name | CMP |
|---|---|
| Coromandel Interntl. | 2014.60 |
| National Fertilizers | 77.82 |
| RCF | 136.75 |
| Chambal Fert & Chem | 484.25 |
| Paradeep Phosphates | 136.05 |
| View more.. | |
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