Coromandel International Successfully Completes NACL Acquisition, Expanding Agrochemical Portfolio.

Coromandel International, the agri-input services arm of the Murugappa Group, has successfully acquired a 53% controlling stake in NACL Industries Ltd. The move marks a significant expansion of Coromandel's presence in the agricultural sector.

Following the acquisition, the board of NACL Industries has been restructured. Natarajan Srinivasan, the Executive Vice-Chairman of Coromandel International, has been appointed as the new Chairman of the NACL board.

While the majority stake has been secured, the ongoing open offer to acquire an additional 26% stake from public shareholders is still in process. The completion of this open offer will further solidify Coromandel International's ownership and control of NACL Industries.