TTK TO OFF-LOAD SPINNING MILL, FOODS DIVISION
Article Abstract:
The TTK group will be selling its foods division and its spinning mill in the near future. The Rs18 crore cotton yarn spinning mill at Nagari in Andhra Pradesh is making losses. It costs TTK Textiles Rs18 lakh a month to maintain the mill. The mill has been affected by the recession in the global textile industry. The foods division of TTK Pharma was the first to introduce Fryums, the ready-to-fry snacks. Currently, the foods division contributes Rs5 crore to the group's revenue. The group plans to concentrate on its core areas of cookers, pharma and condoms. (ag)
Comment:
Will be selling its foods division and cotton yarn spinning mill in the near future for an undisclosed amount
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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3 GLOBAL MANAGERS SHORTLISTED FOR MODERN FOODS SELL-OFF
Article Abstract:
The Government of India plans to divest its 50 percent stake in Modern Foods Limited (MFL). It has shortlisted three investment bankers, ANZ Grindlays, Jardine Fleming and Lazard Creditcapital for appointment as global co-ordinator for organising the sale of its stake. The government proposes to make MFL a 50:50 joint venture. The government will hold 50 percent stake in the venture while the other partner will hold 50 percent. (gs)
Comment:
State-owned company is likely to divest 50% stake of Indian government
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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KHAITANS SELL NESTLE STAKE IN OPEN MARKET FOR Rs15 CR
Article Abstract:
Khaitans, promoters of the Williamson Magor group, have offloaded 5 lakh shares of Nestle Limited (NL) into the open market. These shares, which accounted for 3.5 percent of the equity of NL, were sold for Rs15 crore. The shares were jointly held by many Williamson Magor group companies and were sold at Rs300 per share. The Khaitans propose to use the sale proceeds to revive their businesses. (ag)
Comment:
Khaitans, promoters of Williamson Magor group, have offloaded 5 lakh shares of co into the open market
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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