SIMPLY AN EXIT OPTION

Article Abstract:

Kothari Plantations & Industries Ltd (KPIL) has made an open offer for acquiring 27.5 lakh shares of Claro India at Rs2.50 per share. The loss making Claro India has been referred to the Board for Industrial and Financial Reconstruction. KPIL plans to undertake forward integration through Claro's manufacturing units. KPIL currently holds 25 stake in Claro. The open offer will help increase its stake to 55 percent. The offer opens on December 8, 1998 and closes on January 7, 1998. Claro India manufactures formaldehyde and paraformaldehyde. For the six months ended September 1998, it posted a net loss of Rs0.64 crore. (nr)

All Other Basic Organic Chemical Manufacturing, Cyclic Crude and Intermediate Manufacturing, Formaldehyde, Paraformaldehyde, Heterocyclic aromatic compounds, Kothari Plantations and Industries Ltd

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WELCOME MOVE

Article Abstract:

Madura Coats is planning to hive off its textiles division, which contributes almost 40 percent of the company's sales turnover. This move has been welcomed by investors as growth in the textile division has been restricted to 7-8 percent per annum. The company is now relying on growth of its readymade garments division, which has well known brands like Van Heusen, Allen Solly, Louis Phillipe and Peter England. The division, which accounts for 20 percent of the company's annual turnover, has shown a growth rate of 40 percent per annum. (khr)

Comment:

Madura Coats is planning to hive off its textiles division, which contributes almost 40 percent of the company's sales turnover.

United States, Apparel & Related Products, Apparel Manufacturing, Madura Coats

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CHANDRA QUOTES BIG PRICE FOR STAR TREK WITH ZEE

Article Abstract:

Mr Subhash Chandra of Zee TV has said that he is willing to pay $250 million to acquire Star TV's operations in India - Star Plus, Star Movies, Star News and Star World from NewsCorp. This offer does not include taking on Star TV's accumulated losses, estimated at $250 million, or the current employees of Star TV. Mr Murdoch of NewsCorp has asked Goldman Sachs to do the evaluation. (khr)

Comment:

Mr Subhash Chandra of co says that he is willing to pay $250 mil to acquire Star TV's operations in India

Cable Networks, Cable TV Networks, Cable networks (Television), Star TV Inc., Article, Zee TV

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