New Delhi : Deepak Fertilizers informed stock exchanges that the Competition Commission has approved its proposal to acquire additional 26% stake in Vijay Mallya group firm Mangalore Chemicals and Fertilizers. Deepak Fertilizers as well as Zuari Agro Chemicals are looking to take over MCFL.
Market regulator Sebi, which had given go-ahead to the proposed stake purchase by Deepak Fertilizer and Zuari Group in MCFL, had ruled that their respective open offers can commence only after CCI nod. The open offers can start only within 12 working days after the CCI approval is received for the both the deals.
