TII buys French arm Financiere

Murugappa Group firm Tube Investments of India has acquired a 22.87 per cent stake in its foreign subsidiary, Financiere C10 SAS, from share holders, making it a wholly-owned subsidiary of the company. According to a BSE announcement, the company on Tuesday acquired 51,208 shares of FC10, which is the holding company of Sedis SAS & Societe de Commercialisation de Composants Industriels, in France and Sedis Company, UK.