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CFL acquires 50.72 per cent stake in Ficom The Economic Times 01 June 2006: Coromandel Fertilisers Ltd has acquired a 50.72 per cent stake in Ficom Organics Ltd, thereby making the firm its subsidiary. The company acquired 31,40,567 equity shares of Ficom Organics on May 30, Coromandel Fertilisers informed the Bombay Stock Exchange. Ficom Organics has become subsidiary of the company effective from May 30. Last month, Coromandel Fertilisers had announced an offer to acquire by tender up to 14,85,880 equity shares of Rs 10 each of Ficom representing 24 per cent of its paid-up equity share capital. Also, it had entered into a share purchase agreement
with the promoters of Ficom in March to acquire a controlling stake
in the company.
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