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Sunday, December 13, 1998
Exide arm to up stake to 75 pc
ENS ECONOMIC BUREAU
MUMBAI, DEC 12: The UK-based Chloride Motive Power Batteries Ltd (CKP), a subsidiary of the American battery giant Exide Corp, is increasing its stake in the US parent Indian subsidiary, Tudor India Ltd, to 75 per cent from 50 per cent.Chloride Motive Power will buy 24.6 per cent stake in Tudor India from JM Shah of MJ Exports -- the original promoter of Tudor India Ltd -- for a consideration of Rs 14 per share for which the Foreign Investment Promotion Board approval has been received, said Tudor India MD Deepak Dheer here on Saturday. Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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