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Matherson buys stake in Herbertsons

Our Bureau

Mumbai , March 3

Matherson Advisory Singapore Pvt Ltd, a registered FII, has bought 8.29 lakh shares (8.71 per cent) of Herbertsons Ltd from McDowell & Co Ltd and Phipson Distillery at Rs 263.35 per share through a block deal executed on Tuesday.

The total cost of acquisition works out to Rs 21.83 crore.

At the end of December 2005 quarter, Phipson Distillery Ltd had a stake of 56.18 per cent and McDowell & Company 4.83 per cent. The deal was brokered by Ambit Capital, a Bombay Stock Exchange member. This is first block deal by Ambit Capital, press release by the company here said.

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