STOCKWATCH

Coromandel International to Acquire Controlling Stake in NACL Industries, Becoming a Leading Indian Crop Protection Player

Coromandel International Limited, one of India’s leading agri-solutions providers, has signed definitive agreements to acquire a majority stake in NACL Industries Limited. The acquisition will position Coromandel as one of the leading players in the Indian Crop Protection industry, expanding its scale, accelerating its entry into contract manufacturing business, fast-tracking new product commercialization, and expanding its product portfolio. The proposed transaction is subject to regulatory approvals and is likely to be consummated over the next few months.

• Coromandel International to acquire 53% shareholding in NACL Industries for Rs 820 Crores
• Proposed transaction includes an open offer to the public to acquire up to 26% of the equity share capital of NACL
• NACL Industries has strong brand presence in domestic formulations segment with pan India footprint
• Acquisition will strengthen Coromandel’s presence in Crop protection business both in domestic and export markets
• Combined synergies in R&D and manufacturing to accelerate Go to market strategy for new products and intermediates