Alfa Laval owns 77% of India subsidiary’s shares

Alfa Laval owns 77% of India subsidiary’s shares
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First Published: Wed, May 30 2007. 12 23 PM IST
Updated: Wed, May 30 2007. 12 23 PM IST
By Reuters
Stockholm: Swedish engineering group Alfa Laval said on 30 May it now owned 77% of the shares in Alfa Laval India.
Alfa Laval said in a statement the owners of 13% of the shares offered to sell at Rs1,300 per share represents sa total value of about 520 million Swedish crowns ($76 million, Rs308 crore).
Alfa Laval said in February it had bid about 700 million crowns for most of the remaining shares in the firm, and that the planned purchase at Rs875 per share would lift its stake in the Mumbai-listed firm to 90% from 64%. It had expected the bid process to be concluded in June.
Earlier this month, Alfa Laval raised the bid to Rs1,300 per share and repeated its intention to raise its stake to 90%.
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First Published: Wed, May 30 2007. 12 23 PM IST
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