Competition Commission of India approves acquisition of certain equity shares in NACL Industries Limited by Coromandel International Limited

Competition Commission of India approves acquisition of certain equity shares in NACL Industries Limited by Coromandel International Limited

The Competition Commission of India has approved the acquisition of certain equity shares in NACL Industries Limited by Coromandel International Limited.

The Proposed Combination comprises acquisition of certain equity shares in NACL Industries Limited (NACL) by Coromandel International Limited (CIL).

CIL is a public listed company which is an agri-solutions provider, offering diverse products and services across the farming value chain. The key business verticals of CIL include: (i) crop nutrition (fertilizers and specialty nutrients); (ii) crop protection (insecticides, fungicides, herbicides, plant growth regulators, bioproducts); (iii) active ingredients; and (iv) retail outlets.

NACL is a public listed company which operates in the agro-chemical sector. It offers crop protection products and active ingredients. As part of its crop protection business, NACL supplies insecticides, fungicides, herbicides and plant growth regulators / nematicides.

Detailed order of the Commission will follow.