PLANETASIA TO DIVEST STAKE TO VENTURE CAPITAL FIRM
Article Abstract:
Planetasia.com is likely to sell off part of its equity stake to a venture capital company. The proposed divestment programme is part of the company's business plans to infuse more capital. Planetasia.com is mainly involved in the Internet business. It offers services in Internet/Intranet, web publishing and hosting and electronic commerce. Planetasia.com is a part of the Microland Ltd of Bangalore. Mr Pradip Kar, Chairman and Managing Director of Microland, holds 5 percent stake in the company, while the rest is held equally by Microland and ICICI Venture Funds Management Company Ltd. Planetasia.com has a paid-up capital of Rs3 crore. (gs)(psr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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MAX INDIA CUTS STAKE IN GB VENTURE TO 25.1%
Article Abstract:
Max India is decreasing its holding in the Rs200 crore Max GB, a 50:50 joint venture with Gist Brocades (GB) of the Netherlands, to 25.1 percent from 50 percent now. GB will subscribe to a Rs80 crore convertible debenture issue from Max GB, which will increase its stake to 74.9 percent after conversion. Max India has the option to increase its stake back to 50 percent over 7 years at the current share price. Max GB produces bulk drugs and intermediates based on Penicillin-G. (khr)
Comment:
Decreases its holding in Rs200 crore Max GB, a 50:50 joint venture w/ Gist Brocades of Netherlands to 25.1% from 50%
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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SANMAR SET TO BUY AMERICAN REMEDIES' BULK DRUG PLANT
Article Abstract:
The Sanmar group of Chennai is exploring possibilities to acquire American Remedies Ltd's (ARL) Rs13 crore bulk drug plant. The plant is located at Alathur near Chennai. Speciality Chemicals Ltd (SCL), a subsidiary of Chemplast Sanmar is expected to acquire the Alathur plant. ARL's Alathur plant manufactures the bulk drug, ambroxol hydrochloride which is being exported to Germany, Italy and Mexico. ARL plans to sell the plant to focus totally on domestic formulations. (gs)(vr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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