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Our Bureau

Hyderabad , Feb. 23

FOLLOWING the approval from the Foreign Investment Promotion Board and the Reserve Bank of India, the African fertiliser major — Foskor Ltd — has acquired 16,00,000 equity shares constituting five per cent equity of Godavari Fertilisers and Chemicals Ltd (GFCL).

These shares were acquired on Monday from Coromandel Fertilizers Ltd (CFL).

In a communication to stock exchanges, GFCL said the shareholding of Foskor after the said acquisition stood at five per cent.

The shareholding of Coromandel Fertilisers in GFCL after the sale stood at 1,60,22,152 shares, constituting 50.07 per cent.

More Stories on : Mergers & Acquisitions | Fertilisers

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