Financial Daily from THE HINDU group of publications
Friday, Apr 08, 2005
Financial Daily from THE HINDU group of publications Friday, Apr 08, 2005 |
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Corporate
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Mergers & Acquisitions GVK Petro acquires 22.89 pc in Taj GVK Our Bureau
Hyderabad , April 7 TAJ GVK Hotels & Resorts Ltd has informed the stock exchanges that S.B. Finance Pvt Ltd and GVS Finance Pvt Ltd have been amalgamated with GVK Petrochemicals Pvt Ltd following the orders of the Andhra Pradesh High Court dated December 30, 2004. Accordingly, shareholding of both these companies have been acquired by GVK Petrochemicals through inter se transfer. GVK Petrochemicals has acquired 28,71,486 shares aggregating to 22.89 per cent of the total paid-up capital of Taj GVK Hotels & Resorts on March 31. The mode of acquisition is consequent to the scheme of amalgamation of SB Finance and GVS Finance with GVK Petrochemicals. The shareholding of GVK Petrochemicals after the said acquisition is 41,94,447 shares, 33.44 per cent of the total paid-up capital of Taj GVK Hotel & Resorts.
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