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Home > Business > Reuters > Report
Atlas Copco says to buy out Indian unit
December 06, 2002 18:54 IST
Sweden's Atlas Copco AB said on Friday it plans to acquire the 49.01 per cent stake it does not already own in its Indian unit Atlas Copco (India) Ltd from public shareholders. The engineering group will offer Rs 243 per share, a 29.3 per cent premium to the Indian subsidiary closing's price of Rs 188 on Friday, a statement said. "This offer is in line with our global philosophy of owning 100 per cent holding in our subsidiaries worldwide," it quoted Staffan Nordin, group treasurer of Atlas Copco AB as saying. The offer will be open from January 29 to February 27.
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