United Breweries Holdings Ltd subsidiary announces Open Offer for Deccan Aviation at Rs.155

Edelweiss Capital Ltd ("Manager to the Offer") on behalf of Kingfisher Radio Ltd, a wholly owned subsidiary of United Breweries (Holdings) Ltd, along with the Persons Acting in Concert ("PAC"), namely, United Breweries (Holdings) Ltd, its 100% subsidiary, UB Overseas Ltd and such other person / persons whom United Breweries (Holdings) Ltd may nominate (hereinafter collectively referred to as "Acquirers"), has issued this Public Announcement ("PA") to the shareholders of Deccan Aviation Ltd ("Target Company"), pursuant to Regulations 10 & 12 of the Securities and Exchange Board of India (Substantial Acquisition of Shares & Takeovers) Regulations, 1997 and subsequent amendments thereto, ["SEBI (SAST) Regulations"].

The Offer

The Acquirers are making an Offer to the public shareholders of the Target Company to acquire upto 27,094,024 fully paid equity shares of Rs 10/- each, representing in the aggregate 20% of the Post Issue Voting Capital at a price of Rs 155 per share ("Offer Price"), payable in cash and subject to the terms & Conditions mentioned in PA. (the "Offer")

Scheduled of Activities:

Specified Date: June 07, 2007

Date of Opening of the Offer: July 25, 2007

Date of Closing of the Offer: August 13, 2007

Source : Equity Bulls

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