CMP TO BUY SPANISH CO'S STAKE IN TUDOR INDIA

Article Abstract:

CMP Batteries of UK plans to acquire the 51 percent stake of Sociedad Espanola Del Accummulador Tudor SA in Tudor India. The acquisition forms part of its internal restructuring plan and will be implemented through mutual transfer of holdings. Once the mutual transfer of holdings is completed, CMP will hold 51 percent stake in Tudor India , with Mr JM Shah, a director, holding 23.81 percent and the balance 25.19 percent being held by the public. Tudor India has a capacity to manufacture 4 lakh batteries. The company incurred a loss of Rs five crore on sales of Rs27 crore for the year ended June 1998. It has launched the Prestolite brand of storage batteries. (nr)

Primary Battery Manufacturing, Alkaline Batteries & Cells, Alkaline batteries, CMP Batteries Ltd., Sociedad Espanola del Acumulador Tudor

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LUMAX OFFERS TO HELP PUSH COLLABORATOR'S STAKE TO 20%

Article Abstract:

Lumax Industries Ltd (LIL), a light systems, filters and rear- view mirror producer, is to offer more shares to Stanley Electric Company (SEC) of Japan to raise its stake in it to 20 percent. It plans to offer 2.5 lakh equity shares on a preferential basis to SEC. This move of LIL follows a rise in its equity following its amalgamation with Laser Lamps of Haryana. The proposed deal will go through only if SEC agrees to buy the shares at Rs125 per share. LIL will be seeking its shareholders' approval of the proposed move on September 21, 1998. (ag)

Comment:

Lumax Industries is to offer 2.5 lakh equity shares on preferential basis to the co to raise its stake in it to 20%

Auto Electrical Equipment, Motor Vehicle Electrical and Electronic Equipment Manufacturing, Vehicular Lighting Equipment Manufacturing, Vehicular Lighting Equip, Automotive electric equipment, Article, Lights (Motor vehicle), Lumax Industries Ltd., Stanley Electric Company Ltd.

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