Coromandel International Completes Acquisition of 53% Controlling Stake in NACL Industries Ltd

Coromandel International Limited, a leading agri solutions provider in India, has successfully closed the Share Purchase Agreement (SPA) for the acquisition of promoter shareholding in NACL Industries Ltd. (NACLIND). This transaction has resulted in Coromandel acquiring a controlling stake of 53% in NACL. The Open Offer to acquire up to 26% additional stake from public shareholders under the SEBI Takeover Regulations is still in process. Following the stake acquisition, three new members, including Dr. Raghuram Devarakonda as Managing Director & CEO, have joined the Board of NACL Industries. This acquisition aligns with Coromandel's strategic roadmap to enhance its presence in the agri solutions space.