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Name | Symbol | Market | Type |
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Mdgh 34 S | LSE:BO73 | London | Medium Term Loan |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
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0.00 | 0.00% | 0 | - |
RNS Number:2871T GKN PLC 20 March 2002 GKN increases its 51% shareholding in GKN Driveshafts (India) Ltd to 92.4% GKN today announces that, through its subsidiary company GKN Automotive GmbH, it will increase its current 51% shareholding in GKN Driveshafts (India) Ltd. This follows an open offer to all public shareholders at Rs 55/- (79p) per share following an agreement with International Finance Corporation (IFC) to acquire its 14.1% shareholding of 1.8 million shares at Rs.55/- per share. The offer opened on February 5 and closed successfully on March 5 when GKN had received valid acceptances constituting 27.3% of the total share capital. Upon acquisition of the shares under offer and the IFC holding GKN's shareholding will increase from 51% to 92.4%. The total cost to GKN will be £2.8 m for the shares acquired in this first open offer and £1.4m for the shares acquired from IFC. Subject to local regulatory requirements, GKN Driveshafts (India) Ltd will be delisted from the relevant Indian Stock Exchanges following a second offer for the remaining outstanding shares. For further information: GKN Corporate Communications + 44 (0)207 463 2354 This information is provided by RNS The company news service from the London Stock Exchange
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