Financial Daily from THE HINDU group of publications
Friday, Apr 23, 2004
Financial Daily from THE HINDU group of publications Friday, Apr 23, 2004 |
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Corporate
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Mergers & Acquisitions Sanmar group stake up in Chemplast Sanmar Our Bureau
Chennai , April 22 THE Sanmar group, promoter of Chemplast Sanmar, on Thursday informed the NSE that it had acquired 1.05 crore shares of Chemplast on April 20. Following the acquisition, the promoter group holds 76.88 per cent of the company's total paid-up capital. The exchange notice said that the acquisition came out of a scheme of arrangement between Sanmar Holdings, Sanmar Properties and Investments, and Chemplast Sanmar, and their respective shareholders. As a result of the aforementioned arrangement, the stake of Sanmar Holdings in Chemplast Sanmar stands at 76.63 per cent.
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