F&S TO UP HOLDING IN SACHS INDIA
Article Abstract:
Fichtel & Sachs (F&S), a leading global manufacturer of shock absorbers and a part of the Mannesmann group, plans to increase its stake in its Indian joint venture, Sachs India Ltd, from 51 percent now to 80 percent. Increasing equity stake is aimed at bringing in more funds into the Indian venture as the domestic promoters are unwilling to invest in the loss making company. Sources say that F&S proposes to acquire 29 percent stake from the company's Indian promoters. (khr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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LEHMAN BROS TO CLOSE INDIA SHOP
Article Abstract:
Lehman Brothers, an investment bank of the US, has decided to close down its Indian operations due to the economic downturn in Asia and the poor business in the country. It had entered India 5 years ago through a tie-up with SBI Capital Markets, but does not find it profitable to sustain operations. It had looked after a few major disinvestment programmes of public sector undertakings as lead and co-lead managers for their global depository receipts. (khr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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