Lotte Confectionary Company Ltd has announced its open offer to acquire additional 20 per cent stake in Parrys Confectionery Ltd from equity shareholders at Rs 283.25 per share.
The open offer will open on March 9 and close on April 7, Enam Financial Consultants Private Ltd, (lead managers to the offer), informed the Bombay Stock Exchange on Tuesday.
The specified date for the offer to acquire 754,258 shares of Rs 10 face value is January 22.
On January 16, Murugappa group, promoters of Parrys Confectionery divested its 60.39 per cent stake in the company to Korean firm Lotte Confectionery Company Ltd for over Rs 64.47 crore.
The acquisition amount was equivalent to Rs 283.12 per fully paid up equity share.
