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Colour
Chem intends open offer for Vanavil Dyes & Chem
PTI
- Mumbai
Colour
Chem (CCL) is planning to make an open offer to shareholders of
Vanavil Dyes and Chemicals (VDCL), an affiliate company, pursuant
to annoucement by EBITO Chem Ag and Clariant Ag to acquire 22 lakh
CCL shares through an open offer.
CCL
intends to make an offer to acquire upto 20 per cent stake in Vanavil
and make an public announcement by April 18, 2003, the company informed
the Bombay Stock Exchange recently.
Colour
Chem presently holds 56.19 per cent stake in VDCL and its offer
would be along similar lines to the one made by EBITO, the parent
for Colour Chem. The company would make an offer for the principal
amount with the same reference date as provided in market regulator’s
order for the Colour Chem.
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