The Financial Express -- News

Thursday, August 14 1997

MSEB bond issue norms irk foreign banks

Foreign banks have expressed displeasure over the terms indicated in the proposed bonds issue of the Maharashtra State Electricity Board (MSEB). The banks have said that they will not subscribe to MSEB's bonds if they carry a five-year moratorium on coupon-servicing.

KSB group to acquire UB group's MIL Controls

The KSB group is buying out MIL Controls Limited, the Kerala-based company of the UB group. The German multinational KSB will acquire a majority 51% stake in MIL Controls while its Indian ally KSB Pumps will pick up the remaining 49%.

Godrej Soaps may hike stake in food unit to over 50%

Godrej Soaps plans to increase its holding in associate company Godrej Foods to over 50% from the existing 41%. The move is aimed at maximising the benefit of yields on the investments to Godrej Soaps and its shareholders.

Colgate-Palmolive plans to double sales through market development

MPs give Cadbury Schweppes a bad hangover