Coromandel International to Acquire 26.00% Stake in NACL Industries for Up to INR 524.62 Crore

Coromandel International Limited (Coromandel International) has announced an Open Offer for acquisition of up to 5,24,62,320 Equity Shares representing 26.00% of the Voting Share Capital of NACL Industries Limited (NACL Industries) from the Public Shareholders of NACL Industries. The Offer is pursuant to and in compliance with the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and subsequent amendments. The Offer is being managed by JM Financial Limited. The transaction is expected to be completed after the closing of the sale and purchase of the Promoter Sale Shares in terms of the Promoter SPA, leading to the termination of the Share Subscription and Shareholders Agreement.