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[size=44]Nestlé Clarifies on Press News that Nestlé SA is acquiring shares in Nestlé India to delist
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A Section of media has reported that Nestlé S A Switzerland is acquiring shares in Nestlé India Ltd as a part of its goal to delist the company. In this regard Nestlé India has received a clarification from Nestlé S A Switzerland which is reproduced hereunder
"A Section of media has reported that Nestlé S A Switzerland is acquiring shares in Nestlé India Ltd as a part of its goal to delist the company.
Nestlé S A, Switzerland shall be seeking approval of the GOI to acquire upto 10% equity in Nestlé India Ltd as and by way of creeping acquisition under the Indian Laws. The approval is only to enable Nestlé S A, Switzerland to acquire the shares in case it so desires
The current shareholding of Nestlé Group, Switzerland in Nestlé India Ltd is 53.96% and in case the proposal for additional 10% equity is fully implemented, the shareholding would increase to 63.96%
Today interesed some share holders..Hope price will increase around Rs 1300-1400 Levels..