ROTHMANS' INDIA PLAN HANGS IN BALANCE

Article Abstract:

Rothmans International had planned to set up a 100 percent subsidiary in India. This proposal needs a no-objection certificate (NOC) from ITC. The merger of Rothmans International and British American Tobacco Plc (BAT) may not provide for the former any leverage in ITC. British American Tobacco Plc has 31.8 percent stake in ITC and Rothmans International less than 2 percent. The acquisition of the stake of Rothmans International by British American Tobacco Plc will not give a controlling stake in ITC to British American Tobacco Plc. Rothmans International plans to launch some cigarette brands like Rothmans International, Dunhill, Cartier and Rothmans Lights in India. These brands compete with ITC's Benson and Hedges, 555, India Kings and Classic brands in the premium segment. Rothmans International may launch some of its brands through ITC without setting up a subsidiary of its own in India. (rk) (kvr)

Facilities & equipment, Tobacco Products, Tobacco Manufacturing, Parent-to-subsidiary activities, British American Tobacco Plc., Rothmans International PLC

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KEMWELL OFFERS 51% STAKE TO AUSSIE PARTNER

Article Abstract:

Kemwell International, a medical gloves producer of Bangalore, has offered a 51 percent stake to Ansell of Australia for Rs133 per share. This deal will take place after Ansell makes an open offer to acquire 23.41 percent stake in Kemwell. The promoters of Kemwell now hold 75 percent of the total equity capital of Rs3 crore. An agreement has been reached to allow Ansell to acquire 74.90 percent stake in Kemwell. (khr)

Comment:

Kemwell International makes offer to sell 51% stake to this co for Rs133 per share

All Other Rubber Product Manufacturing, Industrial Supplies Whsle, Industrial Supplies Wholesalers, Surgical Rubber Gloves, Rubber gloves, Article, Kemwell International, Ansell International

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