• Investment World
• eWorld
• Catalyst
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Port Info

• Ships in Ports
  
  

Archives

• Yesterday
• Datewise
• Resources

Group Sites

• The Hindu
• Business Line
• The Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Boby Kurian

Bangalore , March 18

MS KOMAL Chhabria Wazir, the second daughter of the Manu Chhabria estate, has indicated that she is not a bidder for Shaw Wallace & Co Ltd (SWC) at "any price", and will not oppose a potential sale of the company to UB Group Chairman, Mr Vijay Mallya, if the latter coughs up a compelling price.

The bidding process for the Chhabria family managed SWC, which started almost four months ago, is in the last mile with Ms Wazir pitched as the principal opponent to Mr Mallya.

The 33-year-old Ms Wazir is an Executive Director of SWC and expressed her interest to acquire the business, as the Chhabria estate decided to put the second largest domestic spirits company, on the block.

Sources close to Ms Wazir said she "is not interested in acquiring the business at any price and will not oppose a sale to Mr Mallya if he offered an attractive price. Ms Wazir feels that Mr Mallya deserves to take the business if he values it higher than her".

The latest development paves way for Mr Mallya to make an aggressive pitch for SWC as it puts him within a striking distance to acquire the company.

It is learned that Mr Mallya is likely to revise the offer price to roughly Rs 1,350 crore, as against the current pitch of Rs 1,251 crore, and also assume liabilities of SWC, which is close to Rs 400 crore.

Sources said the UB Chairman was expected to make a breakthrough within the next few days and an overseas deal could be struck using the $300-million line of credit extended by ICICI Bank.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
ONGC, HPCL, Reliance bet big on wind energy

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