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Coromandel International Ltd Updates On Acquisition Of Liberty Urvarak Limited


Thursday, 21 Mar 2013 08:06am EDT 

Coromandel International Ltd announced that it has entered into a share purchase agreement with Liberty Urvarak Limited (LUL) and the shareholders of LUL on January 24, 2013 for acquiring 2,997,552 equity shares of face value of INR10 each representing 100% equity share capital of LUL. Further the Company has informed that, Coromandel had on March 20, 2013 acquired 2,551,360 equity shares representing 85.11% of the equity capital of Liberty Urvarak Limited (LUL) from the Shareholders of LUL pursuant to the said Share Purchase Agreement. Accordingly Liberty Urvarak Limited has become a subsidiary company of Coromandel. Coromandel had on March 07, 2013 acquired 7,019,406 equity shares representing 48.62% equity capital of Liberty Phosphate Limited (LPL) from the promoters of LPL pursuant to a Share Purchase Agreement. Further, LUL holds 722,928 equity of Liberty Phosphate Limited representing 5.01% of the Voting Share Capital of Liberty Phosphate Limited (LPL). By virtue of acquiring the controlling stakes in LUL, Coromandel has indirectly acquired 5.01% equity of LPL. The total shareholding of Coromandel and LUL in Liberty Phosphate is now 7,742,334 equity shares representing 53.63% of the equity of LPL and LPL has become a subsidiary Company of Coromandel. 

Company Quote

219.7
-3.2 -1.44%
16 Apr 2014