Deepak Fertilisers to buyout Zuari Fertilisers’ stake in MCF

Deepak Fertilisers is keen to buyout Zuari Fertilisers’ stake in Mangalore Chemicals & Fertilizers (MCF). In this regard, the company has readied funds to make an open offer to Zuari. Zuari Fertilisers is planning to exit MCF by February this year. Zuari Fertilisers holds 16.40% stake in MCF, while Deepak Fertilisers is holding 24% stake in the company.

Mangalore Chemicals & Fertilizers (MCF) is the only manufacturer of chemical fertiliser in state of Karnataka. The Karnataka based company manufactures products such as urea, di-ammonium phosphate, muriate of potash, granulated fertilizers, micronutrients, soil conditioners and specialty fertilizers.

Deepak Fertilisers & Petrochemicals is one of the leading manufacturers of industrial chemicals and fertilisers in India. The company operates in three business segments - chemicals, fertilisers and real estate.