Financial Daily from THE HINDU group of publications
Friday, May 14, 2004
Financial Daily from THE HINDU group of publications Friday, May 14, 2004 |
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Corporate
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Mergers & Acquisitions Berger International to divest stake in Malta subsidiary Our Bureau
Mumbai , May 13 BERGER International Ltd, the overseas subsidiary of Asian Paints, announced it would divest stake in its subsidiary Berger Paints (Malta) Ltd (BPM). Berger International Ltd has announced that it would sell its 84.2 per cent equity stake in BPM to local partners. An agreement to this effect was signed between Berger International and Van Gee Bee Ltd & its associates. Van Gee Bee Ltd, the local shareholder, held the balance 15.8 per cent stake in the company. Berger International Ltd would receive a consideration of around S$1.8 million (around Rs 47 crore) for the sale of its stake in Berger Paints (Malta) Ltd. Berger International Ltd is listed on the Singapore Stock Exchange. It has no operations in India. Asian Paints has controlling stake in Berger International Ltd.
More Stories on : Mergers & Acquisitions | Paints
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