Fresenius Kabi gets 2 months extension for delisting offer

Fresenius Kabi Oncology today said Securities Appellate Tribunal (SAT) has granted it an extension of two months to complete its delisting offer.

"An order was passed in the open court granting the company an extension of two months from October 22, 2013 for completing the delisting offer," Fresenius Kabi Oncology Ltd said in a filing to BSE.

Also read: SAT order on Fresenius Kabi anti-investor: JN Gupta

A copy of the SAT Order will be disseminated once the company receives the same, it added.

The order came after the firm had filed a Miscellaneous Application before SAT seeking an extension of time to complete the delisting offer.

Earlier this month the company had said that Securities and Exchange Board of India (SEBI) had advised it to approach Securities Appellate Tribunal (SAT) for seeking any relief, including extension of time.

On September 16 this year Fresenius Kabi Oncology had said in a filing to BSE that the promoter of the company i.e. Fresenius Kabi (Singapore) Pte Ltd had made a public announcement to its (Fresenius Kabi Oncology) public shareholders in respect of the proposed acquisition and consequent delisting of the fully paid-up equity shares of the Company from the BSE and NSE.