Equity hike
30 September 1996 00:00 [Source: ACN]
Hoechst has sought permission from the Indian government to raise its equity stake in Hoechst Marion Roussel from 50.1% to 56.1%. It plans to buy 13.82m shares with a face value of Rs10/share at a price to be negotiated with Morgan Grenfell, which bought the shares from Hoechst's Indian partner, United Breweries (UB), earlier this year. UB now holds 26% stake, and the Indian public the balance.
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