vishnuvega
03-12-2007, 06:34 PM
Greif International Holding BV, Netherlands-based founder of Balmer Lawrie-Van Leer, on Monday made a delisting offer to shareholders for acquiring 19.76 per cent stake in the domestic company.
Balmer Lawrie-Van Leer Limited is a joint venture between Balmer Lawrie & Co Ltd and Royal Packaging Industries Van Leer NV, a business of Grief Bros Corporation.
Greif International proposes to acquire 31,12,053 shares representing 19.76 per cent of the paid up equity share capital of Balmer Lawrie from the public shareholders and propose to apply for delisting of equity shares from the Bombay Stock Exchange.
Around 80 per cent of the shares are held by the promoters, the balance are with the public.
The floor price was Rs 46 per share and the Dutch company would announce the discovered price, the exit price through reverse book building process, the bid opening date would be December 14 and closing date would be December 20 this year.
Shareholders of Balmer Lawrie at the Annual General Meeting held on September 28, approved the delisting of its equity shares pursuant to the delisting guidelines.
The acquirer's acceptance, non acceptance of discovered price would be announced on December 26.
Final settlement date for shares in dematerialised form is December 27, where as for shares in physical form it is January 25, 2008.
Balmer Lawrie-Van Leer Limited is a joint venture between Balmer Lawrie & Co Ltd and Royal Packaging Industries Van Leer NV, a business of Grief Bros Corporation.
Greif International proposes to acquire 31,12,053 shares representing 19.76 per cent of the paid up equity share capital of Balmer Lawrie from the public shareholders and propose to apply for delisting of equity shares from the Bombay Stock Exchange.
Around 80 per cent of the shares are held by the promoters, the balance are with the public.
The floor price was Rs 46 per share and the Dutch company would announce the discovered price, the exit price through reverse book building process, the bid opening date would be December 14 and closing date would be December 20 this year.
Shareholders of Balmer Lawrie at the Annual General Meeting held on September 28, approved the delisting of its equity shares pursuant to the delisting guidelines.
The acquirer's acceptance, non acceptance of discovered price would be announced on December 26.
Final settlement date for shares in dematerialised form is December 27, where as for shares in physical form it is January 25, 2008.