Tata Tea announces Open Offer to the shareholders of Mount Everest Mineral Water Ltd

DSP Merrill Lynch Ltd ("Manager to the Offer"), on behalf of Tata Tea Ltd ("Acquirer") has issued this Public Announcement ("PA") to the shareholders of Mount Everest Mineral Water Ltd ("Target Company"), pursuant to Regulation 10 and Regulation 12 and in compliance with the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 and subsequent amendments thereto (the "SEBI (SAST) Regulations").

The Offer

The Offer is made by the Acquirer to the public shareholders of the Target Company to acquire up to 6,799,194 fully paid-up equity shares ("Share(s)") of face value Rs 10 each, representing in the aggregate 20.0% of the enhanced capital of the Target Company at a price of Rs 140/- per Share ("Offer Price"), payable in cash & subject to the terms & conditions mentioned in PA.

Schedule of Activities

Specified Date: July 04, 2007

Date of Opening of the Offer: July 27, 2007

Date of Closing of the Offer: August 16, 2007

Source : Equity Bulls

Keywords