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Strategies & Market Trends : India Coffee House
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To: Mohan Marette who wrote (10117)12/19/1999 9:28:00 PM
From: Mohan Marette  Read Replies (1) of 12475
 
Pirelli close to buying stake in Birla Tyres for Rs 650 cr($150 mil)

HERE comes another mega deal. The BK Birla group is in talks with Pirelli SpA of Italy to offload up to 50 per cent of its stake in Birla Tyres in a deal of around $150m (Rs 650 crore). The transaction involves the spinning off of Birla Tyres, which is currently a "leased division" of Kesoram Industries Ltd (KIL), into a separate joint venture and offering equity in the new outfit to the foreign partner. (ET 12/20/99)
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