BAT WITHDRAWS MOVE TO RAISE STAKE IN VST
Article Abstract:
BAT has shelved its plan to increase its stake in VST Industries Ltd (VIL) to 50 percent. This follows the withdrawal of VIL's proposal seeking government approval to allow BAT to acquire the unsubscribed portion of its proposed Rs75 crore rights issue. The rights issue would increase BAT's stake to 50 percent. Currently BAT holds 31.73 percent holding in VIL through its two affiliated companies-Raleigh Investment and Tobacco Manufacturers Ltd. The rights issue was aimed at mobilising funds for the agro- processing project of VIL's subsidiary, VST Natural Products Ltd. VIL now plans to convert the advance application money received from BAT for the rights issue into External Commercial Borrowings. (gsh)
Comment:
Shelves plan to increase its stake in VST Industries Ltd to 50%
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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DE BEERS' TO LAUNCH BRANDED DIAMOND JEWELLERY IN INDIA
Article Abstract:
De Beers plans to launch the Sampatti range of branded diamond jewellery in India. The premium range will be marketed through a network of 1,400 jewellers across India. The Sampatti range consists of diamond finger rings priced at Rs15,000 each. De Beers plans to invest Rs14 crore during 1998 for promoting diamonds in India. It plans to promote diamonds through print and electronic media. (ag)
Comment:
Plans to launch the Sampatti range of branded diamond jewellery in India
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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