L&T TO MAKE OPEN OFFER FOR NARMADA CEMENT
Article Abstract:
Larsen & Toubro (L&T) plans to make an open offer to buy shares in Narmada Cement Company Ltd. This offer will open on March 5, 1999, and close on April 3, 1999. The shares will be acquired at Rs34 each. The deal may involve foreign currencies too. Larsen & Toubro has already bought 64.82 percent stake in Narmada Cement Company Ltd at Rs34 per share from the Chowgules, the promoters of Narmada Cement Company Ltd. The Chowgules hold 3.36 crore fully paid shares of Rs10 each and 41 lakh partly paid ones. They also hold 1,750,000 zero coupon fully convertible debentures of Rs100 each. Larsen & Toubro will be buying the debentures at Rs340 each. Larsen & Toubro is likely to spend Rs243 crore on the acquisition of Narmada Cement Company Ltd. Both the companies make cement. (ag/kvr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
L&T SETTING UP FRONT-END ENGG DESIGN GROUP
Article Abstract:
Larsen & Toubro (L&T), an engineering procurement and construction (EPC) company, is establishing a Front-End Engineering Design (FEED) group at Baroda. It will be setting up the division as it is entering into process related areas like on-shore oil & gas, refinery, fertilisers and chemicals and petrochemicals. The FEED group will help L&T to become the only EPC offering front-end engineering in India. The FEED group will be working as a link between the process licensor and the EPC business units of L&T. It will also convert process design details got from the process licensor into front-end engineering. (ag)
Comment:
Engineering procurement & construction company establishes a Front-End Engineering Design group at Baroda
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: PCPL MAKES OPEN OFFER FOR 20% STAKE IN TWO AEC COs VORIN LABS MAKES OPEN OFFER FOR STAKE IN FDCL. DE BEERS TO UP DPPL STAKE TO 100%, INVEST $430 M
- Abstracts: VANISHING Cos' DIRECTORS MAY FACE THE STICK FROM CENTRE. TN TARGETING 100% COMPUTER LITERACY IN TEN YEARS, SAYS MK
- Abstracts: HOTEL MAJORS MAKE A BEELINE FOR SINDHUDURG. HILTON PLANS SECOND FORAY INTO INDIA. INTER-CONTINENTAL HOTELS EYEING INDIA'S PALACES
- Abstracts: BEST & CROMPTON TO HIVE OFF 4 ARMS INTO SEPARATE Cos. BEST & CROMPTON BAGS Rs5.7-CR ORDER
- Abstracts: RPG PLANS TO BE FIRST TO MAKE VITAMIN B2 MacNEAL-SCHWENDLER TO SET UP INDIAN UNIT. NAL FLIES WORLD'S FIRST WANKEL MICROLIGHT