Financial Daily
from THE HINDU group of publications
Friday, October 12, 2001
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Financial Daily from THE HINDU group of publications Friday, October 12, 2001 |
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Hind Oil - No open offer implication
HDFC'S proposal to acquire 1.3 million shares in Hindustan Oil Exploration from overseas promoter British Borneo Oil and Gas BV, may not leave a material impact on the stock price of the latter.
The deal which is reported to have been completed at a value of Rs 14 to Rs 15 per share, is an inter se transfer of stake within co-promoters of Hindustan Oil and Exploration and will not attract an open offer. HDFC already holds a stake in Hindustan Oi
l and exploration and this purchase will push up HDFC's stake to 10.7 per cent. - BL Research Bureau
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