Financial Daily from THE HINDU group of publications
Saturday, May 18, 2002
Financial Daily from THE HINDU group of publications Saturday, May 18, 2002 |
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Corporate
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Open Offers Parent makes final offer for purchase of Cadbury shares Our Bureau
MUMBAI, May 17 CADBURY Schweppes Plc and Cadbury Schweppes Mauritius Ltd, formerly known as Clarendon Investments Mauritius Ltd, have informed the Bombay Stock Exchange that they are making a final cash offer to purchase the outstanding public shareholding of Cadbury India Ltd. Priced at Rs 500 for every fully-paid up equity share, the offer covers 3,483,539 equity shares, aggregating 9.76 per cent of the outstanding equity share capital of Cadbury India. The offer opens on May 20 and closes on June 19. Earlier, the two companies, along with Cadbury Schweppes Overseas Ltd had made a voluntary offer to the public shareholders of Cadbury India to acquire its entire shareholding at a similar price of Rs 500 per share. Cadbury Schweppes Overseas held 18,213,120 equity shares representing 51 per cent of the paid- up equity capital of Cadbury India. Pursuant to the offer, Cadbury Mauritius had acquired 14,015,341 fully-paid equity shares of Cadbury India resulting in an increase in the foreign promoter's shareholding from 51 to 90.24 per cent.
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