PCPL MAKES OPEN OFFER FOR 20% STAKE IN TWO AEC COs

Article Abstract:

Peacock Chemicals Pvt Ltd (PCPL) and two of its associate companies plan to make an open offer for acquiring 20 percent stake in AEC India Ltd (AECIL) and AEC Enterprises Ltd (AECEL). PCPL is buying 1,265,800 shares of AECIL at Rs5.50 per share and 6,044,800 shares of AECEL for Rs1.50 each. PCPL has more than 10 percent stake in both the companies. The offer opens on August 3, 1998. PCPL is a trading company dealing in industrial gases, real estate and windmill for power generation. AECIL handles turnkey engineering projects for water and sewerage management, effluent treatments, high and low voltage electrical installations. AECEL is a trading company. (rk)

Comment:

To offer for acquisition of 20% stake in AEC India & AEC Enterprises w/ 2 of its associate companies

Motor and Generator Manufacturing, Electric Power Generating Equip, Other Chemical and Allied Products Wholesalers, Industrial Gases Whsle, Electric power plants, Industrial gas wholesalers, AEC India Ltd., Peacock Chemicals Private Ltd.

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DE BEERS TO UP DPPL STAKE TO 100%, INVEST $430 M

Article Abstract:

Diamond mining firm, De Beers of South Africa plans to increase its stake in its Indian joint venture, Diamond Prospecting Pvt Limited (DPPL) from 50 percent to 100 percent. DPPL will be made into a 100 percent subsidiary of De Beers. De Beers plans to invest $430 million in DPPL. The investment will be routed through the wholly owned subsidiary of De Beers Consolidated Mines, De Beers Mauritius. In the first five years, De Beers plans to invest $30 million for prospecting, evaluating and trial mining in India. Another $400 million will be invested for possible discovery of diamonds during mining and exploration. (gsh)

Comment:

Plans to increase its stake in its Indian joint venture Diamond Prospecting Pvt Limited from 50% to 100%

Gem Diamonds, All Other Nonmetallic Mineral Mining, Diamond industry, Diamond mining, Diamonds, De Beers Botswana Mining Company (Proprietary) Ltd., Diamond Prospecting Private Ltd.

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VORIN LABS MAKES OPEN OFFER FOR STAKE IN FDCL

Article Abstract:

Vorin Laboratories Ltd (VLL) which is involved in manufacturing bulk drugs and intermediates has made an open offer to buy majority stake in the ailing Fine Drugs and Chemicals Ltd (FDCL). VLL intends to buy 23.73 lakh shares in FDCL from its promoters, Mr A Prabhakar Reddy and associates. The shares represent 37.76 percent stake in FDCL's equity. The offer will remain open from May 14, 1999 to June 12, 1999. VLL also intends to acquire another 12.57 lakh shares of FDCL which accounts for 20 percent stake in FDCL. For 1997-98, FDCL has incurred a net loss of Rs2.14 crore on a turnover of Rs5.32 crore. Its paid-up capital was at Rs6.28 crore. (gs)(vr)

Medicinal and Botanical Manufacturing, Bulk Medicinals & Botanicals, Vorin Laboratories Ltd., Fine Drugs and Chemicals Ltd.

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