CHUBB TO ACQUIRE MAJORITY STAKE IN STEELAGE IND

Article Abstract:

Chubb International Holdings of UK and the Turner Morrison Group (TMG), the two promoters of Steelage Industries Ltd (SIL), have agreed to readjust their 83 percent holding in the company. Chubb will increase its stake in SIL from 23.8 percent to 53.8 percent while TMG will reduce its stake from 59.2 percent to 29.2 percent. SIL, a manufacturer of safety and security equipment, has a 30 percent share of the domestic fire safety market. (khr)

Comment:

Chubb International Holdings of UK and the Turner Morrison Group (TMG), the two promoters of Steelage Industries Ltd (SIL), have agreed to readjust their 83 percent holding in the company.

Electronic computers, Electronic Computer Manufacturing, Computerized Security Sys, All Other Miscellaneous Manufacturing, Manufacturing industries, not elsewhere classified, Chemical Fire Extinguishers, Security measures, Fire extinguishers, Chubb International Holdings of UK, Steelage Industries Ltd, Turner Morrison Group

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TBWA TO TAKE STAKE IN FOUNTAINHEAD

Article Abstract:

TBWA-Anthem Communications is to acquire a 51 percent majority stake in Fountainhead, a Rs25 crore advertising agency, of Chennai. Fountainhead will function as an independent agency at Chennai in the initial stages but may later be merged with TBWA. Fountainhead has clients like Nyle Shampoo, Madras Cements, Aircell, TI Cycles and Citibank Shelter. A 51 percent stake in Anthem was acquired by TBWA in April 1998. (khr)

TBWA-Anthem Communications, Fountainhead Advertising

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SAATCHI HIKES STAKE IN SISTA TO 80 PER CENT

Article Abstract:

Saatchi & Saatchi of UK has raised its holdings in Sista Saatchi & Saatchi (SSS), an advertising company, to 80 percent. Earlier, it held a 10 percent stake in SSS. The stake has been acquired through S&S Holdings BV. The employees of SSS hold the balance 20 percent stake in the company. SSS proposes to offer market research, direct marketing and consultancy services to increase its business. (ag)

Comment:

Acquires 70% stake of Sista Saatchi and Saatchi to increase its ownership to 80%

Agency Formation/Mergers, Saatchi & Saatchi Company PLC, Article, Sista Saatchi and Saatchi

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