India’s Deepak Fertilisers acquires stake in Mangalore Chemicals

03 July 2013 18:16  [Source: ICIS news]

LONDON (ICIS)--Deepak Fertilisers & Petrochemicals (DFPCL) has acquired a 24.46% stake in Mangalore Chemicals and Fertilisers, the India-based firm said on Wednesday.

Deepak said it bought 28,991,150 shares of Mangalore Chemicals and Fertilisers. It did not disclose how much it paid.

“Given DFPCL’s considerable strengths in the fertilizer business, the investment is very strategic and a good fit with the company’s business,” Deepak said in a brief statement.

Mangalore Chemicals and Fertilizers, which is part of India’s diversified UB Group, supplies urea, di-ammonium phosphate (DAP), sulphuric acid and speciality fertilizers, among other products, according to information on its website.

By: Stefan Baumgarten
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