Deutsche Bank picks up 14.9% in RPG Cables

Deutsche Bank picks up 14.9% in RPG Cables
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First Published: Tue, Apr 10 2007. 01 36 AM IST
Updated: Tue, Apr 10 2007. 01 36 AM IST
Kolkata:Deutsche Bank AG, Hong Kong, has picked up a 14.9% stake in RPG Cables, manufacturer of power and telecommunications cables and a part of the RPG Group. This is part of the financial restructuring that RPG Cables has completed and which it announced to the Bombay Stock Exchange on Monday.
As per the restructuring package, Deutsche Bank and the promoters have infused Rs151 crore through a combination of debt and equity.
Deutsche Bank has been alloted fully convertible debentures of Rs28 crore, or approximately 14.9% of RPG Cables’ equity capital.
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First Published: Tue, Apr 10 2007. 01 36 AM IST
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