Financial Daily from THE HINDU group of publications
Tuesday, May 31, 2005
Financial Daily from THE HINDU group of publications Tuesday, May 31, 2005 |
|
|
|
|
|
Corporate
-
Mergers & Acquisitions Rane to up stake in Kar Mobiles Our Bureau
CHENNAI: Rane group intends to pick up 27.9 per cent stake in Kar Mobiles Ltd, in which it has 27 per cent holding, through an open offer that is likely to hit the market on July 20. Shareholders of Kar Mobiles could sell their shares either for cash or exchange them for shares in Rane Engine Valves Ltd. (Both Rane Engine Valves (REVL) and Kar Mobiles manufacture automobile engine valves). For the purpose of the offer, one share of Kar Mobiles has been valued at Rs 145 and that of Rane Engine Valves at Rs 435. Kar Mobile's shares are listed only on the Madras and Bangalore stock exchanges and are very thinly traded; in contrast, REVL's shares are listed on the NSE, the BSE and the MSE. Hence a Kar Mobiles shareholder opting to receive REVL shares would benefit from enhanced liquidity, says a press release from REVL.
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2005, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|