MOHAN MEAKEN TO CUT STAKE IN MACDONALD JV
Article Abstract:
Mohan Meakin (MM) plans to sell off 40 percent of its stake in Macdonald Mohan Distillers Limited (MMDL) to Bentley Finance Limited (BFL), a company promoted by Mr Srikant Ruparel of Mumbai. MMDL, a liquor company, is a joint venture between MM and Macdonald & Muir Limited (MML) of UK. Both MM and MML hold 50 percent stake in MMDL. MMDL's paid-up capital of Rs6 crore had been wiped out and it needs more capital to sustain. MM has decided not to infuse more funds into the equity of MMDL. The company has now to seek a new investor to build up its capital base. MMDL's scotch brands include Highland Queen (Blue Label) and Highland Queen (cream label). It has also launched Grand Reserve whiskey in India. (gs)
Comment:
Plans to sell off 40% of stake in Macdonald Mohan Distillers to Bentley Finance
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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CDC PICKS UP 45% STAKE IN AQUA CHEMICALS & SYSTEMS
Article Abstract:
The Commonwealth Development Corporation (CDC) of UK has acquired a 45 percent stake in Aqua Chemicals & Systems (Mfg) Ltd. Aqua Chemicals & Systems (Mfg) Ltd is a producer of water and waste water systems. The Commonwealth Development Corporation has acquired the stake by subscribing to a private placement of shares through its subsidiary, Nandi Investments of Mauritius. Consequently, Aqua Chemicals & Systems (Mfg) Ltd has an equity of Rs3.40 crore (Rs1.88 crore earlier). The stake has been acquired at a cost of Rs3.60 crore. The Commonwealth Development Corporation will now be able to nominate 2 directors on the board of Aqua Chemicals & Systems (Mfg) Ltd. (ag) (kvr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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