Financial Daily from THE HINDU group of publications
Saturday, Jun 19, 2004
Financial Daily from THE HINDU group of publications Saturday, Jun 19, 2004 |
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Corporate
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Mergers & Acquisitions Logistics - Shipping GE Shipping acquires 63 pc stake in POTIL Our Bureau
Mumbai June 18 GREAT Eastern Shipping, the country's largest fleet owner in the private sector, has announced the acquisition of 13.52 lakh equity shares of P&O Travel India Ltd (POTIL), an unlisted company. These shares represent 38.64 per cent of the paid-up share capital of the travel company. This acquisition was facilitated by the decision of P&O Cruises BV of the Netherlands, which used to hold 60 per cent stake in company, to dilute its entire stake. With this acquisition, GE Shipping, which used to have 25 per cent stake in POTIL, will now have 63.64 per cent stake in the company, thus making the latter one of its own subsidiaries.
More Stories on : Mergers & Acquisitions | Shipping
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