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| Exchange Disseminated Time | Coromandel International Ltd has informed BSE that the Board of Directors of the Company at its meeting held on January 24, 2013, has approved the acquisition of upto 81,25,107 fully paid equity shares of Liberty Phosphate Limited (Liberty) from the Promoters of Liberty representing 56.28% of equity of Liberty at a price of Rs. 241/- per fully paid equity share and authorised entering into a Share Purchase Agreement with the Promoters of Liberty.
The Board further approved to make a public announcement to the Shareholders of Liberty for acquiring upto 26% of equity shares of Liberty, pursuant to the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 ("Regulations") at such price determined as per the said Regulations.
The Board also approved the acquisition of 100% equity stake of Liberty Urvarak Limited and acquisition of Business undertaking of M/s. Tungabhadra Fertilisers and Chemicals Company Limited as a going concern on a slump sale basis. |
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