ITC arm acquires Aussie firm

ITC arm acquires Aussie firm
PTI
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First Published: Fri, Aug 17 2007. 07 51 PM IST
Updated: Fri, Aug 17 2007. 07 51 PM IST
Kolkata: Corporate giant ITC Ltd on Friday said it has acquired the entire shareholding of Australian firm Technico Pty Ltd for an undisclosed sum.
Russell Credit Ltd, a wholly-owned subsidiary of ITC Ltd, has acquired the shareholding of Australia-based Technico Pty Ltd, the company informed the Bombay Stock Exchanges.
Following the the buyout, the wholly-owned units of the Australian company have now become subsidiaries of Russell Credit, it added.
These subsidiaries include Technico Pty Ltd, Technico ISC Pty Ltd,Technico Asia Holdings Pty Ltd, Chambal Agritech Ltd, Technico Group America Inc, Technico Technologies Inc and Technico Horticulture (Kunming) Co Ltd - are spored across Australia, India, USA, Canada and China.
Shares of the company were closed at Rs 153.35, down 3% on the BSE.
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First Published: Fri, Aug 17 2007. 07 51 PM IST