UTV PROMOTERS TO BUY BACK NEWS CORP'S STAKE
Article Abstract:
The promoters of United Television (UTV) are buying back the 37 percent stake in the company held by News Corporation. Sources say that this buying back may be a prelude to going in for an overseas listing, probably at Nasdaq in the US soon. News Corp had acquired a 49 percent stake in the Rs9 crore equity of UTV but this was reduced to 37 percent when EM Warburg Pincus invested 24 percent in UTV's equity. UTV undertakes software development for advertising films and corporate video, airline in- flight programming for about 14 airlines and dubbing of Disney's library and Discovery Channel's programmes into hindi. (khr)
Comment:
Promoters of United Television of India are buying back 37% stake held by this co
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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NH SECURITIES TAKES 7.5% IN AFTEK
Article Abstract:
NH Securities of Mumbai has bought 7.5 percent stake in the equity of Aftek Business Machines Ltd of Pune. Aftek Business Machines Ltd had privately placed with companies and individuals 15 lakh shares carrying a premium of Rs26.5 each. NH Securities has bought 4.4 lakh of these shares. Aftek Business Machines Ltd has allotted 1 lakh shares to 11 technocrat-promoters to maintain their stake of 26 percent and 9.7 lakh shares to various companies. The raised equity of Aftek Business Machines Ltd is Rs5.75 crore. (rk) (kvr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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WATERS CORP TAKES FULL CONTROL OF INDIAN ARM
Article Abstract:
Waters Corporation of the US has acquired the 60 percent stake of its Indian partner, the Bagarias. The company now has 100 percent control of Waters India. The company has an equity of Rs1.2 crore. Waters India operates in high performance liquid chromatography (HPLC) systems. The majority stake was acquired following the new liberalised foreign investment policy announced by the Indian government. The sales turnover of Waters India was Rs16 crore in 1996-97. (uh)
Comment:
Acquires 60% stake of its Indian partner Bagarias & now has 100% control of Waters India
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
User Contributions:
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