Aditya Birla Nuvo Ltd To Acquire 56 Percent In Chennai Firm Apollo Sindhoori

Aditya Birla Nuvo Ltd will acquire 56 percent in Chennai based firm Apollo Sindhoori.

Aditya Birla Nuvo Ltd To Acquire 56 Percent In Apollo Sindhoori

Last Updated: 28-08-2008 17:36:58 IST

Business

» Sterlite Technologies Ltd Bags Orders Worth Rs 2.78 Billion For Power Conductors

» 3G CDMA Spectrum To Be Auctioned: A Raja

» Telecom Companies May Have To Pay Up To Rs 5000 For Each Unverified User

» M&M In Talks With Italian 2-Wheeler Major Malaguti Moto

» India Concludes Free Trade Pact With Asean

It was announced by the Aditya Birla Nuvo Ltd on Thursday, August 28, that acquisition of 56 per cent in Chennai's capital investment firm Apollo Sindhoori has been permitted by its board of directors. The acquisition will cost Aditya Birla Nuvo Ltd Rs.190 Crore.

Aditya Birla Nuvo, a diversified firm of the Aditya Birla Group, has interests in cement, apparel and financial services. It has stated through a statement that it is going to make an offer of another 20 per cent in Apollo Sindhoori as per stipulations under the law.

Report typo or correction

More in: Indian Companies

See also: Airlines \| Airtel \| Auto Shows \| Banking & Finance \| BSNL \| Construction \| Energy \| Hyundai \| Indian Companies \| Inflation \| Infrastructure \| International Business \| Internet \| Jet Airways \| Maruti Suzuki \| Mobile \| ONGC \| Ranbaxy \| RBI \| Real Estate \| Reliance \| Reliance ADAG \| Tata Motors \| Telecom \| Toyota