Colour-Chem Offer For 20% In Vanavil At Rs 45.90

Chemical company ColourChem and EBITO Chemiebeteiligungen AG, along with Clariant International and Clariant AG, have decided to make an open offer to acquire 9.86 lakh shares, or 20 per cent of the equity capital, in Vanavil Dyes and Chemicals. The offer price is fixed at Rs 45.90.

The issue opens on June 16 and closes on July 15. Vanavil Dyes is a listed company based in Cuddalore, Tamil Nadu, that manufactures specialty chemicals like pigments and pigment intermediates.

Colour Chem already owns 27.71 lakh shares (52 per cent stake) in Vanavil Dyes. On the other hand, EBITO Chemiebeteilingungen does not hold any shares in Vanavil Dyes.

 

On Tuesday, the Vanavil Dyes