The Hindu Business Line : Corporate developments

Coimbatore, July 17 EID Parry India Ltd has completed sale of its 47 per cent equity holding in Parryware Roca Private Ltd to M/s Roca Bathroom Investments S.L., an affiliate of Roca Sanitario S.A, Spain and has received sale consideration of Rs 747.39 crore. With this transfer, E.I.D Parry (India) Ltd’s equity holding in Parryware Roca Private Ltd is 3 per cent.

Gateway Distriparks Ltd’s board of directors will consider on July 25 a buy back of equity shares of the company.

KLG Systel Ltd has signed an investment agreement with IBM Daksh Business Process Services Private Ltd (IBM Daksh) for investment of Rs 12 crore in its subsidiary viz. KLG Power Ltd. The subscription price is Rs 608.96 a share for 1,97,057 equity shares of Rs 10 each, equivalent to 1.19 per cent of the total share capital of KLG Power Ltd on fully-diluted basis. The investment shall be made on fulfilment of conditions precedent in the agreement.

McNally Bharat Engineering Company Ltd has informed that it has received an order from Vedanta Alumina Ltd for design, detailed engineering, manufacture and supply of equipment, erection and commissioning of 3 units Green Anode Plant (35 TPH each) at Jharsuguda, Orissa, valued at Rs 246 crore. ORG Informatics Ltd has secured two orders worth of Rs 98.36 crore from Telecommunications Consultants India Ltd, New Delhi for supply, installation and commissioning of equipments.

Unitech Ltd has said that on satisfactory completion of all the conditions under the transaction documents and receipt of subscription amount of Rs 740 crore approximately, Lehman Brothers Real Estate Partners have been allotted 50 per cent stake in the initial phase of a master-plan project on the Western Expressway of Mumbai. The project is being jointly developed by the company and its local Mumbai partners. The initial phase entails development of one million sq ft of office space out of the total developable area of approximately 18 million sq ft.

West Coast Paper Mills Ltd’s Board of Directors on July 17 decided to issue preference shares up to Rs 65 crore as an alternative way of raising funds for expansion programme.

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