The Financial Express -- Corporate

Friday, December 5 1997

Carona promoters on lookout for buyers to offload stake

Carona Ltd, once a prominent player in the footwear market, is open to the idea of an infusion into its equity. The promoters are reportedly on the lookout for prospective buyers for their stake. Carona is also looking at strategic alliances for its distribution network as well as its brand. The company's search for a suitable strategic partner has, however, met with little success.

ICI to initiate discussions with new government on Asian Paints issue

After failing in its bid to transfer shares in Asian Paints, the British multinational ICI Plc has decided to wait till the formation of a new government to initiate a dialogue. ICI Plc had earlier sought to acquire 9.1% shares of Asian Paints India Ltd (APIL) in August and had approached the Foreign Investment Promotion Board (FIPB) to obtain permission for the same. The FIPB in November refused to take up the application of the British company saying it could not be considered without a supporting board resolution from Asian Paints.

IBM to rope in Integrated Data for overseas venture

Global information technology major IBM is all set to rope in Bangalore-based Integrated Data Systems & Software (P) Ltd (IDS) as its software solutions partner and provider for the hospitality industry in Singapore and the Asean. The partnership, which will be sealed in Singapore on Friday through a memorandum of understanding (MoU), will provide an opportunity to IDS to market its Fortune series -- a comprehensive property management system for the hospitality sector -- more widely in the South-East Asian market.

BoI picks up controlling stake in Securities Tradiing Corporation

NTPC, BSES in race for Cochin Refineries' mega power project

Captains of industry none too happy with recurring Delhi durbar drama

Peugeot may face Rs 250-crore exit barrier

IOB frames new working-capital lending policy

IDFC kickstarts funding operations

Corporate Briefing -- Eureka Forbes H1 net jumps to Rs 8 crore

Carona promoters on lookout for buyers to offload stake

Nokia, GSM join hands for providing service solutions

ICI to initiate discussions with new government on Asian Paints issue

Electrolux, Vestfrost to go slow on venture with Blue Star

Blue Dart expands state operations