The Hindu Business Line : Merrill Lynch gets 5.10% stake in Satnam Overseas

MERRILL Lynch Capital A/C Merrill Lynch Capital Mkt. Espanan, has acquired 10 lakh equity shares of Satnam Overseas Ltd, a basmati exporter, through the market on December 10, according to a company release.

Merrill Lynch has thereby acquired 5.10 per cent stake of total equity capital of the company. Prior to the transaction, Merrill Lynch did not own or control any non-voting shares.

Satnam Overseas, with its flagship "Kohinoor" brand, enjoys the largest market share of 32 per cent in the domestic branded basmati rice industry. The company has recently launched "Kohinoor Heat & Eat" and introduced new variations in "Kohinoor Rice and Spice".

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Merrill Lynch gets 5.10% stake in Satnam Overseas