UB Group offers to buy 25pc stake in Shaw Wallace
Shaw Wallace and Company owns several popular liquor brands.
24/02/05 UB Group, India's largest brewer, has said it had made an open offer to buy up to 25 percent stake in Shaw Wallace and Company, owner of several popular liquor brands.
The open bid offer price has been pegged at Rs.250 a share, said a UB Group statement issued.
Bangalore-based UB Group said the transaction would deliver value to its own shareholders, the promoters of Shaw Wallace and Company and its minority shareholders.
Shaw Wallace had sales of Rs.1.04 billion in the fiscal year ended March 31, 2004, on which it reported a post tax loss of Rs.174.60 million. The current promoters control 55 percent of the shares of Shaw Wallace.
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