Business Daily from THE HINDU group of publications
Friday, Jun 15, 2007
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Business Daily from THE HINDU group of publications Friday, Jun 15, 2007 ePaper |
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Stock Markets Markets - Stocks Columns - Ear to the ground
The company officially admitted a month ago (on May 15) that it was in negotiations with Actis and Standard Chartered Private Equity for buying out their 60 per cent (30 per cent each) stake Unza Holdings Ltd, a top South East Asian personal care player, but appeared to suggest that talks were not making headway. Following that the stock had cooled off in the market a bit. But speculation re-appeared after one of the promoter entities of Dabur India - Chowdhury Associates - bought some 47.5 lakh shares in a block deal from another promoter outfit - Ratna Commercial Enterprise on Wednesday at price of Rs 100 each.
Market insiders read it as indication of a preparation by the promoters to realise the current market price in one of the entities book, which in turn will help them leverage a buy-out. It is estimated that deal for complete 60 per cent buy-out could cost between $100 million and $150 million. An official of the company offered no response other than describing the transaction as an inter se transfer between the promoter entities. Dabur India finished mildly in the green at Rs 102 with a traded quantity of 3.03 lakh shares on the BSE.
Jayanta Mallick
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