HMR-ROUSSEL MERGER ROW HOTS UP
Article Abstract:
The row over the amalgamation of Hoechst Marion Roussel (HMR) and Roussel India Ltd (RIL) has intensified with the HMR union opposing the merger and fresh charges traded between the companies and the union. The amalgamation has been challenged by the HMR union in the Mumbai High Court. RIL has alleged that the HMR union's challenge was based on pilfered documents. It has also refuted the union's statement that RIL's merger with HMR is against public interest, as RIL is a loss-making company. The HMR union has claimed that RIL's pre-tax profit of Rs2.55 crore has been artificially created by hiking inventories through overvalued stocks and increase in debtors by making last minute sales. These have been shown as outstanding debt as the proceeds of these have not yet been realised. (gsh)
Comment:
Merger w/ Hoechst Marion Roussel is opposed by union group
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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POST NPIL, BOOTS SEEKS LONG-TERM PRESENCE IN INDIA
Article Abstract:
New investments are being planned for India by Boots Healthcare International (BHI) of UK, a pharmaceutical company. BHI already has a tie-up with Nicholas Piramal India Ltd (NPIL). The Rs5 crore joint venture company - Boots Piramal Healthcare Limited - is expected to concentrate on BHI's key product segments of analgesics, upper respiratory and skin care. The tie-up is expected to employ 50 people at its Mumbai office. (ag)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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RANBAXY INCREASES EQUITY IN DUTCH-BASED HOLDING CO
Article Abstract:
Ranbaxy Laboratories Ltd has increased its equity investment in its wholly-owned subsidiary, Ranbaxy (Netherlands) BV, to $55 million from $30 million. The subsidiary is a holding company through which investments are made in joint ventures and subsidiaries in the US, Europe and Africa. The increased equity will be used by the Netherlands-based subsidiary to expand its operations and repay its loans. (khr)
Comment:
Increases equity investment Ranbaxy BV to $55 mil from $30 mil
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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