Switzerland-based speciality chemicals major Clariant
International (CIL) will make an open offer to acquire
a 20-per cent stake in Colour Chem (CCL) at Rs 318 per
In a notification
to the stock exchanges, EBITO Chemiebetelligungen AG,
which is a wholly-owned subsidiary of CIL, will make an
open offer to acquire 23,30,000 fully paid-up equity shares
of Rs 10 each, representing 20 per cent of the paid-up
equity share capital of CCL.
currently holds 58,37,080 shares, representing 50.1 per
cent, in the paid-up equity share capital of CCL. The
offer opens on 28 May 2003 and closes on 26 June 2003.
HSBC Securities & Capital Markets India Pvt Ltd are
the merchant bankers.
of Colour Chem rose by 8.78 per cent to close at Rs 219.25
with 1.56 lakh shares being traded on the Bombay Stock
On the National Stock Exchange, it increased by 9.06 per
cent to close at Rs 221 with 3.53 lakh shares changing