Microsoft Exchange Conference: April 22 - 24

Cut your internet cost now! -- Netwatch

Search
The Indian Express

The Financial Express

Latest News

Screen

Express Computer
Feedback
Travel

Matrimonials

Careers

Lifestyle

Astrology

E-Cards

Columnists

Graffiti

Crossword

Letters

Environment

Jewellery
Info-tech

Power

Steel

Advertisers Forum

Business Forum

In association with Amazon.com

Books Music

Enter keywords


INDIAN EXPRESS FRONT PAGE

Politics

Business

Expressions

General

World

Sports

Leisure

States

 

Sunday, April 25, 1999

L&T likely to make another offer for NCCL

ENS ECONOMIC BUREAU  
MUMBAI, APR 24: Larsen & Toubro, which now holds a 74.5 per cent stake in the Narmada Cement Company Ltd (NCCL), is likely to make a voluntary open offer to the remaining shareholders of NCCL.

During an earlier public offer, which closed on April 3, 1999, approximately 65.5 lakh shares (12.9 per cent of NCCL's share capital) were tendered at Rs 34 per share, an L&T release said here today adding the proposed offer would also be at the same price. L&T had signed an agreement on January 4 with the Chowgule group for acquisition of approximately 62% of voting share capital of NCCL, pursuant to which the public offer was made. Meanwhile, at a board meeting of NCCL, L&T's nominees were appointed on the former's board and the nominees of the original promoter group, the Chowgules, resigned signifying the takeover of NCCL by L&T.

Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.


Top


Phone Cards: 48c a minute to India

Seematti: For Silk and Cotton Dresses

 

Click here for a printer-friendly page Printer-friendly page

India Gift House: Send gifts all over India



EXPRESSindia.com
News   Business    Sports   Entertainment
The Indian Express | The Financial Express | Latest News | Screen | Express Computers
Travel | MatrimonialsCareersLifestyle | Astrology
E-Cards | Graffiti | Environment | Jewellery | Info-tech | Power