Financial Daily from THE HINDU group of publications
Tuesday, Dec 27, 2005
Financial Daily from THE HINDU group of publications Tuesday, Dec 27, 2005 |
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Markets
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Open Offers Dubai Financial makes open offer to acquire 20 pc in Thomas Cook Our Bureau
Mumbai , Dec. 26 DUBAI Financial (LLC) has made an open offer to acquire up to 29,16,667 fully paid-up equity shares of the face value of Rs 10 each, representing up to 20 per cent of the paid-up equity share capital of Thomas Cook (India) Ltd at Rs 619.45 per equity share. The offer opens on February 13 and closes on March 4, 2006. In a notice on the BSE, HSBC Securities & Capital Markets (India) Pvt Ltd, managers to the offer, has announced the open offer to TCIL shareholders in line with the provisions of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations. Last week, TCIL had announced that Dubai Financial, a subsidiary of the Dubai Investment Group (LLC), had bought 100 per cent of the equity share capital of TCIM (Thomas Cook International Markets), which holds 60 per cent of the equity share capital of (TCIL). Meanwhile, Crisil has reaffirmed Thomas Cook (India) Ltd's rating of `P1+' for its Rs 20 crore short-term debt programme. The Thomas Cook scrip closed Monday's trading on the BSE at Rs 586.05 as against the previous close of Rs 597.05.
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