Financial Daily from THE HINDU group of publications
Monday, Feb 28, 2005
Financial Daily from THE HINDU group of publications Monday, Feb 28, 2005 |
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Corporate
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Open Offers Twinstar open offer for remaining 20% in Malco Our Bureau
New Delhi , Feb. 27 TWINSTAR Holdings Ltd, part of Vedanta Resources Plc, has made an offer to acquire the remaining 20 per cent equity shares of Madras Aluminium Company Ltd (Malco) through the reverse book-building route at a minimum price offer of Rs 185 per share. Twinstar currently has 80 per cent equity and after the successful acquisition, the company plans to delist the shares from all the stock exchanges. Malco shareholders have already approved the delisting at the EGM, said an official statement. Under the reverse book-building route, Malco shareholders will be able to offer their shares at or above the offer price. After the book closes, the price is discovered.
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