Piaggio rejects Bajaj equity offer
Mumbai: It is reported that scooter maker Piaggio of Italy has rejected an equity purchase offer from India’s Bajaj Auto, which had offered to take a 20 per cent stake in Piaggio for with a seat on its board. While Bajaj Auto chairman Rahul Bajaj wants to have a say in Piaggio’s Indian operations the Piaggio management wants to act independently in the shrinking scooter market India.
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Govt may postpone IPCL sale
New Delhi: It is reported that the government may postpone its privatisation of the Indian Petrochemicals Corporation Ltd, and go for it only after evaluating the privatisation of Indian Oil Corporation.
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ACC stake may go to Sekhsaria holding company
Mumbai: It is reported that Gujarat Ambuja Cements is considering selling its 7.2 per cent stake in ACC to chairman Narotam Sekhsaria’s private holding company. The arrangement is likely to involve a strategic offshore investor, who will buy a 40 per cent stake in the holding company.

The transaction could free Gujarat Ambuja Cements from the requirement to make an open offer to ACC shareholders.
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Michelin building Rs 500-cr unit
Mumbai: Tyre maker Michelin India will build a Rs 500-crore radial tyre plant at Talegaon, near Pune. The plant will have a capacity to make a million tyres a year.
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Mercedes may sell more cars
Chennai: Mercedes-Benz India Ltd is hoping to sell 1,200 cars in the year 2000, against a thousand in 1999. The company must sell 1,500 cars to break even.
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Scottish & Newcastle acquires Kronenbourg
London: British brewer Scottish & Newcastle is aquiring French food giant Groupe Danone’s Kronenbourg beer business. Scottish & Newcastle will pay around 1.7 bn for Kronenbourg and other assets over three years.

The acquisition will make Scottish & Newcastle the second largest brewer in Europe after Heineken.
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