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Deepak Fertilizers & Petrochemicals buys stake in Mangalore Chemicals & Fertilizers

11:37 PM MDT | July 3, 2013 | Natasha Alperowicz

Deepak Fertilizers and Petrochemicals Corp. (DFPCL; Pune, India) has acquired a 24.46% stake in Mangalore Chemicals & Fertilizers (Bangalore, India) through its wholly owned subsidiary SCM Soilfert, becoming its largest single shareholder. DFPCL acquired the stake for 1.79 billion Indian rupees ($29.65 million).  “Given DFPCL’s considerable strengths in the fertilizer business, the investment is very strategic and a good fit with the company’s business,” DFPCL says. Mangalore Chemicals & Fertilizers producers urea, di-ammonium...

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