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Punjab Chemicals to sell agro formulation and industrial chemicals units

12:02 PM MDT | July 18, 2013 | Natasha Alperowicz

Punjab Chemicals & Crop Protection (Mumbai) says its board of directors today approved the proposed sale of its agro formulation division to Coromandel Agrico Private. The division comprises fixed assets at Nandesari, Vadodara, Lote Parshuram, and Flat, at Vadodara. The sale is subject to the approval of the Indian regulatory authorities and of Punjab Chemicals’ shareholders and lenders. Candle Partners (Mumbai) and Phoenix Legal are advising Punjab Chemicals on financial and legal aspects of the deal, respectively.   Punjab’s board also...

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