May 2009
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Eveready to acquire stake in French co

Dry cell battery maker, Eveready Industries India Ltd. (EIIL) has decided to buy into a French company engaged in manufacturing and distributing rechargeable batteries and allied products. This would be the company’s first overseas acquisition, if the transaction is completed, a senior company official said. Making the announcement, company Executive Vice-Chairman and Managing Director Deepak Khaitan said that EIIL had signed a term sheet agreement on Thursday with CG Holding of France for investing up to 10 million euro in an overseas joint venture or special purpose vehicle, which would acquire a controlling stake of minimum 80 per cent of the share capital of Uniross SA. […]

Suzlon Energy promoters sell 2% stake

Suzlon Energy’s promoters have raised about Rs 230 crore by selling a 2 per cent stake in the company through a block deal. The company informed the stock exchanges on Wednesday that Ms Rambhaben Ukabhai (mother of Suzlon’s Chairman and Managing Director Mr Tulsi Tanti), sold three crore shares representing 2 per cent of the paid-up capital of the company through an open market block deal. With this, the promoters’ holding in the company comes down to 63.82 per cent. According to reliable sources, Citigroup was the book runner for the transaction and institutional investors purchased the shares. The transaction was completed at about Rs 77 a share, according to the sources […]

IFC likely to pick up 4.4% Stake in Max India

The International Finance Corporation (IFC) has decided to pick 4.4% stake in Max India at Rs 145 per share. The sources said that Max India, an insurance and healthcare conglomerate would be raising Rs 150 crore through issue of shares to IFC. The sources further added that the conglomerate would be utilizing the amount raised to fund its expansion of healthcare and insurance business. […]