Acquisitions24 Jul 2025, 03:27 pm
Coromandel International Ltd: Acquisition of Additional Equity Stake in Baobab Mining and Chemicals Corporation, Senegal & Approval of Q1 FY2025 Financial Results
AI Summary
Coromandel International Ltd announced the acquisition of 17.69% of the issued share capital of Baobab Mining and Chemicals Corporation (BMCC), Senegal, through its wholly owned subsidiary Coromandel Chemicals Limited. This will increase CCL's stake in BMCC from 53.82% to 71.51%. The company also approved the unaudited Standalone and Consolidated Financial Results for the quarter ended June 30, 2025.
Key Highlights
- Acquisition of 17.69% of BMCC's issued share capital by Coromandel Chemicals Limited for USD 7.70 million.
- Increase in CCL's stake in BMCC from 53.82% to 71.51%.
- Approval of unaudited Standalone and Consolidated Financial Results for Q1 FY2025.
- Auditors Review Report by M/s. S.R. Batliboi & Associates LLP with unmodified opinion.
- Capital Expenditure Plans for setting up a bagging plant at Kakinada approved.