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Article: UK promoters make delisting offer for Avery India.
- Article from:
- PTI - The Press Trust of India Ltd.
- Article date:
- June 19, 2009
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UK promoters make delisting offer for Avery India
Mumbai, June 19 (PTI) Weighing automation solutions provider Avery India today said its UK-based promoters will make an offer for acquiring about 22 per cent stake in the company from the public shareholders.
AV Co 3 Ltd, the promoter group firm of Avery India, has made an offer to the shareholders of Essar Steel for acquiring the remaining 21.72 per cent stake, comprising over 21.35 lakh shares in the company, Avery India said in a filing to the Bombay Stock Exchange.
The promoters already have 78.28 per cent stake in the company, while they need a minimum of 90 per cent stake to delist it. As ...