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News Roundup: L&T To Raise $500 Mn Infra Fund

Posted on November 25, 2009

ITC May Go For EIH Takeover - ITC said that it will position itself so that it gains extra leverage in any future negotiations concerning its plans for EIH. The company currently owns a 14.98% stake in EIH and is exploring the option of increasing its stake to 25%, just 1% shy of the level which will give it the power to veto board resolutions. This in effect means that ITC will have to make an open offer for acquiring an additional 20%. The Oberoi family, which owns 43% in EIH, will sell a little over 17% to Analjit Singh for up to Rs 1,250 crore, valuing the company at more than Rs 7,200 cro...

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