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Strategies & Market Trends : India Coffee House

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To: Mohan Marette who wrote (5864)	8/25/1999 10:57:00 PM
From: Mohan Marette	Read Replies (1) of 12475

UK firm in talks with Satnam for equity purchase satnamoverseas.com Sanjay Saradna & Vishal Bakshi New Delhi, Aug 25: A UK-based multinational company is in talks with the Rs 300-crore Satnam Overseas for acquiring an equity stake of up to 25 per cent in the company. Negotiations are at an advanced stage for a preferential placement at a price of around $2 (Rs 87) a share, against the current market price of just Rs 29. At least three Foreign Institutional Investors (FIIs) have also shown interest in picking up a stake in the company at around $ 1.75-2 a share. These FIIs are looking at a total investment of $ 12-14 million. The company's joint managing director Gurnam Arora, when contacted confirmed that talks were on with a foreign multinational trading company and some FIIs, but refused to divulge their names..... financialexpress.com

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