HLL open offer for Rossell stake

	Financial Daily from THE HINDU group of publications Thursday, September 27, 2001

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HLL open offer for Rossell stake

Our Bureau

MUMBAI, Sept. 26

HINDUSTAN Lever Ltd and Unilever Overseas Holdings BV acting in concert with Lipton India Exports Ltd will make an open tender offer for the balance 10.38 per cent Rossell Industries equity at a price of Rs 120 per share.

The balance equity is held by third parties.

The shares in this open offer will be acquired by Lipton India Exports Ltd. ``In the event the group is able to acquire more than 90 per cent of the issued and subscribed capital of Rossell Industries Ltd, the Company will be delisted,'' HLL informed BSE today.

Currently, Unilever Overseas Holdings BV of the Netherlands and Lipton India Exports Ltd hold 89.62 per cent of the issued and subscribed capital of Rossell Industries Ltd.