Robert Bosch makes open offer for Indian unit

Written by Reuters | Mumbai, February 29: | Updated: Feb 29 2008, 15:18pm hrs
Germany's Robert Bosch has made an open offer to acquire 20 percent stake in Bosch Chassis Systems India Ltd, giving it 100 percent holding, to enable delisting the local firm from stock exchanges.

In a public announcement, the German industrial group said it has set a floor price of 415 rupees a share for the offer.

The German company, which holds 80 percent in the Indian arm through Robert Bosch LLC and Robert Bosch Investment Nederland BV, had said it would delist the Indian arm in order to enhance operating flexibility.

The bid opens March 24 and closes March 28.

Bosch Chassis shares closed at 639.60 rupees on Thursday in the Mumbai market.