Bosch tries again to mop up minority shares

Robert Bosch GmbH is making another attempt to acquire its subsidiary, Bosch Chassis Systems India Ltd and then delist the company. The parent company has raised its offer from the earlier price of Rs 415 to Rs 600.

Written by Bureaus

June 14, 2008 00:02 IST

At its board meeting held on June 12, Bosch Chassis has decided to make another offer to shareholders to voluntarily delist the company from BSE and NSE. Robert Bosch GmbH, the parent company of Bosch Chassis is seeking to acquire additional shares from the market necessary to delist the company. The new price for this delisting offer has been set at Rs 600. Bosch Chassis will be seeking consent of shareholders at the EOGM scheduled for July 15, 2008.

At present, Robert Bosch LLC and Robert Bosch Investment Nederland BV the promoters of the company collectively hold 80% of the total issued share capital of the company. Bosch had earlier made a public announcement to the public shareholders of the company in February 2008. But the price determined by the reverse book building process of Rs 750 per equity share was not acceptable to Robert Bosch.

This article was first uploaded on June fourteen, twenty eight, at two minutes past twelve in the am.