MAX GROUP MULLS WAYS TO DISTRIBUTE Rs563-CRORE GAIN

Article Abstract:

The Max group, which recently sold its stake in its joint venture with Hutchison, is finalising a strategy to distribute the funds generated from the sell-off among the shareholders. Max India, the group's flagship, has received Rs563 crore from the sale of 40 percent stake in Hutchison Max. Max India is working on different options to distribute the funds, as the parent company's shareholders do not have direct access to these funds, which have gone to Max Telecom Ventures Ltd (MTVL), a privately owned subsidiary of Max India. Some of the options considered are merger of the two companies and a subsequent dividend outflow to the shareholders of the merged entity, or to merge MTVL into Max India or to merge the parent company into the subsidiary. The company is considering hefty dividend payout from MTVL to Max India and a subsequent dividend outflow from Max India to the shareholders. (gsh)

Comment:

Is finalizing strategy to distribute funds generated from sale of subsidiary, Hutchison Max, among shareholders

Diversified Companies, Financial management, Max Group

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DRS TO DISTRIBUTE WEBRAMP RANGE OF PRODUCTS

Article Abstract:

DRS Systems & Services (DRS) of Hyderabad, which is involved in technology marketing and consultancy solutions, has entered into an alliance with Ramp Networks Inc (RNI) of USA. The joint venture envisages distribution of WebRamp range of Internet and corporate access equipments in India. The WebRamp range includes m3, m3t, 300e, 310e EnTre and m2. These products will provide simple Internet access solutions for small business segments, branch offices and SOHO segments. DRS is likely to set up a nation-wide dealership network for distribution of WebRamp products. It also intends to serve regional Internet service providers. (gs)

United States, Computer and Software Stores, Computer Software Wholesale, Computer and Computer Peripheral Equipment and Software Wholesalers, Computer Software Stores, Internet access software, Software distributors, Software stores, DRS Systems and Services Ltd. (Hyderabad, India), Ramp Networks Inc.

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MARICO IND TO DISTRIBUTE TOP RAMEN FOR INDO-NISSIN

Article Abstract:

Marico Industries Limited (MIL) and Indo-Nissin, Japan, have entered into pact for marketing of Top Ramen Smoodles. MIL will market Top Ramen Smoodles for Indo-Nissin. MIL has a network of 4 lakh distribution outlets. MIL's brands include Parachute, Saffola, Sweekar, SIL brands of edible oils and processed foods. Top Ramen recorded sales of Rs20 crore in 1997-98. It has 20 percent share in the instant noodles market. Indo-Nissin, a subsidiary of Nissin Food of Japan has set up a plant in Bangalore to manufacture Top Ramen Smoodles. (rk)

Comment:

Enters into agreement w/ Marico Industries of India for marketing of Top Ramen Smoodles in India

All Other Miscellaneous Food Manufacturing, Noodle Products NEC, Pasta products, Marico Industries Ltd., Indo Nissin Foods Ltd.

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