Financial Daily from THE HINDU group of publications
Friday, Dec 27, 2002
Financial Daily from THE HINDU group of publications Friday, Dec 27, 2002 |
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Corporate
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Mergers & Acquisitions Saptarishi Agro set to change hands again Our Bureau
CHENNAI, Dec. 26 SAPTARISHI Agro Industries Ltd is set to change hands again with the acquisition of Global Green Company's holding by Calibre Rehabs Ltd, according to information provided by the company to the stock exchanges. Global Green Company, a unit of the Thapar group's Ballarpur Industries Ltd, holds 74.30 per cent stake in Saptarishi Agro, a mushroom producer. The 100 per cent export oriented unit is located near Chingleput about 50 km west of Chennai. According to sources, due diligence work is on and Global Green is likely to divest its stake. The move follows problems related to low production capacity and technical hassles. Saptarishi Agro was incorporated in 1992 and came under the control of Tata Tea Ltd in 1996 and in 2000 Global Green Company acquired it. Now Calibre Rehabs has approached Global Green for taking over and running the operations.
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