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News Round Up : KS Oils Acquires Ambo Agro For Rs 150 Crore

25 November, 2008

KS Oils Acquires Kolkata Based Ambo Agro Products For Rs 125-150 Crore: The Madhya Pradesh-based integrated edible oil player KS Oils has acquired an edible oil refinery in Haldia port from Kolkata-based Ambo Agro Products for a consideration of Rs 125 – Rs 150 crore.This will be the company’s first refinery in east India and it has a capacity of 500 tonne crushed per day (tcpd). With this acquisition, the company will have a total refining capacity of 1,800 tcpd. The newly acquired unit will sell refined oil in West Bengal, Bihar, Jharkhand, Orissa, North East and UP. The company has plants in the mustard and soybean growing belts of Madhya Pradesh and Rajasthan, with a crushing capacity of 4,800 tcpd.  

Dhandapani Finance To Sell Assets  At Rs 28 Crores Now Than 41 Crores To Zwirn Pragati Cap Finance Ltd:  Dhandapani Finance Ltd has informed BSE that the Board of Directors of the Company at its meeting held on November 24, 2008, has approved the sale of the company’s assets and liabilities to Zwirn Pragati Capfin Pvt. at Rs 280,000,000/- from an earlier consideration of slump sale of the company’s assets and liabilities at Rs 41.1O Crores fixed.  

 

Bajaj Promoters Scale their stake to 75% From 7% : The promoters of Bajaj Electricals have scaled up their stake by around 7% to 75% in the company through an open offer. The offer was made on behalf of the Bajaj family including Rahul Bajaj, Shekhar Bajaj, Madhur Bajaj and Niraj Bajaj.The promoters had made the offer to acquire up to 12.1 lakh shares, or 7% of the equity capital, at a price of Rs 389 a share. The objective was to consolidate promoters’ stake in Bajaj Electricals, while keeping the public shareholding at 25%, as prescribed by market regulator Sebi.

 

Samsung Merges Electronics And Telecom Business:  Samsung has merged its consumer electronics and telecom businesses in India. Accordingly, Samsung Telecommunications India is being merged into Samsung India Electronics.Both Samsung Telecom India and Samsung India Electronics are wholly-owned subsidiaries of Korean parent, Samsung Electronics Co. Samsung expects to gain significant operational and production synergies along with cost-savings through the merger.Post-merger, Samsung India Electronics will have three business divisions — consumer electronics, IT and telecoms. The move will also help Samsung consolidate its market-share in key segments since the merger will allow it to cross-sell products.

 

Air India Plans To Raise Rs 1,000 Crore : Faced with severe liquidity crunch, national carrier Air India plans to raise another Rs 1,000 crore from banks and financial institutions to meet its working capital needs. Air India, operated by the government owned National Aviation Company of India (NACIL), will thus increase its working capital limit to Rs 13,550 crore by the end of this fiscal.Air India is also raising long-term credit of about $3.5 billion (Rs 17,500 crore) through a consortium of banks to buy aircraft.Air India has taken the private finance route to meet its financial and operational needs. The government is still to provide the much-awaited bailout of Rs 4,000 crore (Rs 1,300 crore equity and Rs 2,700 crore soft loan) as it wants to know the airlines’ fund-utilisation plans.

 

 

 

 

 

 


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News Round Up : KS Oils Acquires Ambo Agro For Rs 150 Crore

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