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Our Bureau

Kolkata , June 8

AFTER acquiring 70 per cent stake in Williamson Tea Assam Ltd at Rs 170 per share from the London-based Magors on Monday, the Khaitans have announced subsequent acquisition of 20 per cent stake in that company through an open offer.

The offer price has been fixed at Rs 145 per share and it would be managed by ICICI Securities, which had advised the Khaitans on their recent acquisition. The offer would be open from August 1-22, this year.

Apart from McLeod India Ltd, the Khaitans would be acquiring the 20 per cent stake through other investment arms of their group.

These are Williamson Magor & Co, United Machine Co Ltd, Ichamati Investments Ltd and Nithya Holdings & Properties Pvt Ltd.

In the open offer, the Khaitans hope to acquire 28.35 lakh equity shares of Williamson Tea Assam from the minority shareholders.

Their payout on this account would be approximately Rs 41.10 crore.

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