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Hoechst to buy UB group stake in Aventis Pharma
Aventis Pharma Ltd said on Monday its promoter Hoechst GmbH plans to raise its stake to 60.37% in the firm by acquiring 10.27% stake from the United Breweries group.
Aventis Pharma Ltd said on Monday its promoter Hoechst GmbH plans to raise its stake to 60.37% in the firm by acquiring 10.27% stake from the United Breweries group.
Hoechst plans to acquire shares from Kingfisher Finvest, United Breweries (Holdings), McDowell Holdings and Mallya Private Ltd at Rs 1,750 a share, Aventis Pharma said in a filing. The acquisition is likely on or after March 30, the filing said.
At 12:01 pm, shares in Aventis Pharma were up 3.73% at Rs 1,825.25, while shares in the United Breweries were up 3.92% at Rs 282.65.
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