PARENT TO PROVIDE GUARANTEE TO GMAC-TCFC VENTURE
Article Abstract:
The General Motors Acceptance Corporation (GMAC) is the financial arm of General Motors. The General Motors Acceptance Corporation has guaranteed its joint venture with the Twentieth Century Finance Corporation (TCFC). Consequently, the joint venture auto finance company - GMAC-TCFC - has been given the highest credit rating of A1+ by Icra Ltd for the proposed Rs25 crore commercial paper programme. The General Motors Acceptance Corporation holds 51 percent stake in GMAC-TCFC. (uh)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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FDC LTD SETS UP EUROPEAN ARM TO BOOST EXPORTS
Article Abstract:
FDC Ltd, a pharmaceutical company of Mumbai, has set up a subsidiary in Europe called FDC Netherlands BV to increase exports. The subsidiary, set up with an initial investment of Rs94 lakh, has invested in the share capital of a UK-based marketing joint venture which will market its ophthalmic products. FDC Ltd, which reported export sales of Rs18 crore in 1997-98, has targeted exports of Rs22 crore for 1998-99 and Rs35 crore by 2000 AD. (khr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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