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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (9045)	10/27/1999 10:16:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 12475

BancAmerica buys 6% stake in Wockhardt (India) Ltd for Rs 131 crore ($30 mil) Wockhardt (India) Ltd wockhardtin.com Wockhardt Heart Hospital & Institute whhi.com BancAm stake in Wockhardt (Thursday, October 28, 1999) Pradipta Bagchi & Rajarshi Roy in Mumbai (BS) Private equity fund BancAmerica Equity Partners has bought a six per cent stake in the Rs 707 crore pharmaceutical major Wockhardt Ltd for Rs 131 crore. "We welcome the interest shown by investors as it proves the strength of our company," Wockhardt chairman and managing director Habib Khorakiwala told Business Standard confirming the purchase. However, he denied speculation that BancAmerica would be given an observer status on the board. "They are financial investors and there is no question of any management role for them." Wockhardt executives said the stake had been bought by BancAmerica from the secondary market. This had been possible because BancAmerica Equity Partners was also registered as a foreign institutional investor with the Securities and Exchange Board of India......