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CFL to buy GFCL shares

CHENNAI: The directors of Coromandel Fertilizers at their meeting held on June 9 have approved a proposal for acquiring the equity shares of Godavari Fertilizers & Chemicals held by the Andhra Pradesh Government and to submit a bid to the Government in this regard. The board also approved that if in case CFL is chosen as the preferred bidder it would make a public announcement to the shareholders of GFCL for acquiring further 20 per cent of equity of GFCL under the SEBI regulations.

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