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Kokuyo to buy 10% in Camlin, make open offer

Kokuyo to buy 10% in Camlin, make open offer
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First Published: Mon, May 30 2011. 05 16 PM IST
Updated: Mon, May 30 2011. 05 16 PM IST
Mumbai: Camlin Ltd, maker of stationary materials, said on Monday Japan’s Kokuyo would buy 10% in the company at Rs85 a share and would form a joint venture in India.
Kokuyo would further buy 20.3% of Camlin from founders at Rs110 a share, Camlin said in a statement.
Post the acquisition of shares, the Japanese firm would make an open offer for up to 20% in Camlin at Rs110 a piece, the company said.
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First Published: Mon, May 30 2011. 05 16 PM IST