snr roulements

Sriram Needle board recast Financial Dailyfrom THE HINDU group of publications Friday, June 09, 2000 • AGRI-BUSINESS • BANKING & FINANCE • COMMODITIES • CORPORATE • INDUSTRY • INFO-TECH • LOGISTICS • MACRO ECONOMY • MARKETING • MARKETS • NEWS • OPINION • INFO-TECH • CATALYST • INVESTMENT WORLD • MONEY & BANKING • LOGISTICS • PAGE ONE • INDEX • HOME Corporate | Next | Prev Sriram Needle board recast Our Bureau CALCUTTA, June 8 NRB Bearings Ltd (NRB), consequent upon transfer of 23.10 lakh shares representing approximately 64 per cent stake in Sriram Needle Bearing Industries Ltd (SNBIL), has secured control, with effect from June 1, of the management of SNBIL, which has now be come NRB's subsidiary. According to a communication by SNBIL to stock exchanges, five members of its board vacated office and three NRB nominees have been inducted. The institutional nominee on the earlier board continues. NRB entered into a share purchase agreement on February 9 with the promoters of SNBIL for acquisition of 45.78 per cent stake for a total consideration of Rs. 82,67,465. Afterwards, an open offer to acquire another 20 per cent stake from the other shareh olders was made by NRB. Even though the open offer price at Rs. 8 was Rs. 3 higher than the price for purchase from the promoters for 7,22,350 fully paid shares of Rs. 10 each, the valid response at 6.57 lakh shares fell 1.78 per cent short of the offer, which was for 7,22,350 fully paid shares of Rs. 10 each. Under the share purchase agreement with SRF, Sriram Bearings, SRF Transnational Holdings, Xonix Enterprise and Lotus Finance & Investment, NRB bought 16,53,493 equity shares at a negotiated price of Rs. 5 each. Under the arrangement, NRB had also agreed to extend an unsecured loan of Rs. 5.69 crores to SNBL. This loan will be used to replace the unsecured loan of the same amount provided earlier by SRF Ltd. The Rs. 140-crore NRB is a joint venture between Nadella of France and Mr. T.S. Sahney. Currently, Nadella is a 50:50 joint venture between SNR Roulements and Torrington of the US. Comment on this article to BLFeedback@thehindu.co.in Send this article to Friends by E-Mail Next: Prestige Foods declared sick Prev: New proposal for Alind takeover Corporate Agri-Business | Banking & Finance | Commodities | Corporate | Industry | Info-Tech | Logistics | Macro Economy | Marketing | Markets | News | Opinion | Info-Tech | Catalyst | Investment World | Money & Banking | Logistics | Page One | Index | Home Copyright © 2000 The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line. разделы дэнас тонировка спецобувь бордюр обоев флюрисцентная краска обрезание ppg краска холодильник бош антигололедные реагент аэрография герб рф отбеливание информационный валаам trinity hi-fi холодильник норд корпоративный иностранный пекарня антенна бустер лечение слух трубогиб дорном телевизионный антенна предохранитель пкн пп-пленка 1000 холодильник антенна акустомагнитные российский флаг добрый тепло авиатакси купить блинницу тройник мытье потолок глюкозамин-хондроитиновый комплекс природа охота инерта краска одевание бахила фарфор 8800 gold edition градирня вентиляторные грд витрина мороженый сварочный пост braas снегоход буран асбест а7-450 электротельфер переводческий бюро omega решетка дренажный пионовая беседка танго кэш герб вышивка охота бабочка 8800 white gold классический аэробика комнатный перегородка близорукость уличный барбекю маркировочная краска природа охота базовый шпатлевка купить fifa 2006 sony ericsson k790i купить snr roulements