Our Bureau

Hyderabad, March 16

The board of directors of Coromandel Fertilisers Ltd (CFL), part of the Chennai-based Murugappa Group, at its meeting held on Thursday, has approved a proposal for acquiring 50.2 per cent of the equity shares of the Mumbai-based FICOM Organics Ltd (FICOM) from its promoters/persons acting in concert. Consequent to this approval, CFL has entered into a share purchase agreement with the FICOM promoters/persons acting in concert, the company informed the stock exchanges. FICOM Organics is involved in developing, manufacturing and marketing alkyl phenols and other agricultural chemicals. The CFL board also approved a proposal wherein the company would make a public announcement to the shareholders of FICOM for acquiring further 24 per cent of equity from them under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations.

(This article was published in the Business Line print edition dated March 17, 2006)
XThese are links to The Hindu Business Line suggested by Outbrain, which may or may not be relevant to the other content on this page. You can read Outbrain's privacy and cookie policy here.