Max India Ltd plans to acquire 49 per cent shares of Cosmat Max held by Cosmat Investments Inc, Mauritius.
A CII delegation, led by Confederation of Indian Industry president and Bharti Enterprises CEO Sunil Bharti Mittal, called on US Democratic presidential candidate Senator Hillary Rodham Clinton at the Capitol Hill in Washington, DC on Wednesday.
Warburg Pincus group and associates are making an open offer to the shareholders of Max India Ltd to acquire additional 20 per cent stake in the company for Rs 200 per share payable in cash.
Max India Ltd will allot 1 crore (10 million) equity shares of Rs 10 each, representing 29.17 per cent of the share capital, to Parkville Holdings Ltd, a member of the Warburg Pincus Group for a consideration of Rs 200 crore (Rs 2000 million).
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