HALLMARK PLANNING 100% INDIAN OUTFIT TO COUNTER VINTAGE SNUB

Article Abstract:

Hallmark International (HI) the makers of greeting cards, plans to acquire 51 percent stake in its Indian franchise Vintage Cards (VC). The promoters of VC, Mr Anil Kumar and Mr Rajesh Vaishnav are disapproving the price offered by HI. HI is planning to set up a 100 percent subsidiary and terminating the exclusive licence agreement given to VC in 1992. Hallmark International is also trying to set up a 100 percent subsidiary and may also terminate exclusive licensing agreement with Vintage Cards. (gs) COMPANY: Hallmark International;Vintage Cards

Comment:

US-based maker of greeting cards plans to acquire 51% stake in its Indian franchise Vintage Cards, USA

Other Commercial Printing, Greeting Cards, Vintage Cards, Hallmark International

---

TISCO YET TO SOLVE HOLDINGS ISSUE WITH TIMKEN

Article Abstract:

Tata Iron & Steel Company (Tisco) has not yet decided whether to dilute its stake in Tata Timken Ltd (TTL) and divest its majority stake in favour of Timken Company of the US. Timken Company, which holds a 40 percent stake in TTL, has plans to increase its holding to 51 percent in the first phase and finally to about 74 percent. Tisco and Timken have not yet reached an agreement as to the price at which the share transfer is to take place. TTL is the only bearing manufacturer to maintain its net profit at the same levels of Rs13 crore in both 1997-98 and 1996-97. (khr)

Comment:

Tata Iron & Steel has not yet decided whether to dilute stake in Tata Timken & divests majority stake in favour of co, India

Ball & Roller Bearings, Ball and Roller Bearing Manufacturing, Machinery industry, Timken Co., Tata Steel Ltd., Tata Timken Ltd.

---

MATTEL TO CONVERT INDIAN CO INTO WHOLLY-OWNED UNIT

Article Abstract:

Mattel Inc, a toy manufacturer of the US, is converting its joint venture, Mattel Toys India (MTI), into a wholly-owned subsidiary. It will raise its stake from 40 percent now to 100 percent by acquiring the entire 60 percent held by the Indian promoters - Vibhuti Investments and DGP Securities. Sources say that the Indian promoters are unwilling to continue the business of MTI, which has a total paid up capital of Rs2 crore. The US parent will acquire full control and bring in more investments and technology to the venture. (khr)

Games, Toys & Children's Vehicles, Game, Toy, and Children's Vehicle Manufacturing, Mattel Inc., MAT, Mattel Toys India

Similar abstracts:

• Abstracts: KOTHARI SUGARS PLANNING FINANCIAL RECAST TO STEM LOSS KCP SUGARS NET PROFIT JUMPS 132% SAKTHI SUGARS NET PROFIT RISES 8%
• Abstracts: CYBERTECH EYES SMALL SOFTWARE COMPANIES IN INDIA. SDRC TO ACQUIRE IMAGEWARE CORPORATION FOR $31 MILLION. CYBERTECH INTL TO ACQUIRE MAJORITY STAKE IN CSSL
• Abstracts: ANSALDO OUT OF MYSORE POWERGEN PROJECT ANSALDO SEEKS INDIAN PARTNER FOR BOILER VENTURE ANDHRA PRADESH INVITES ANSALDO TO SET UP JOINT VENTURE
• Abstracts: TYRE COS CHECK ALIGNMENT FOR A SMOOTHER RIDE. TYRE EXPORTS DECLINE BY 5.06% IN FIRST HALF. TYRE EXPORTS LIKELY TO CROSS Rs1,000 Cr, SAYS REPORT

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.