Open Offer for Lanxess ABS at Rs.201

SBI Capital Markets Ltd ("Manager to the Offer") for and on behalf of INEOS ABS (Jersey) Ltd ("Acquirer") alongwith INEOS Group Ltd and INEOS Holdings Ltd ("Persons Acting in Concert" / "PACs") has issued this Public Announcement ("PA") to the shareholders of Lanxess ABS Ltd ("Target Company"), pursuant to Regulation 10 and Regulation 12 and other applicable provisions and as required under the Securities and Exchange Board of India (Substantial acquisition of Shares & Takeovers) Regulations, 1997 and subsequent amendments thereto (the "SEBI (SAST) Regulations" / "Regulations").

The Offer

The Acquirer proposes to acquire 35,17,125 fully paid up equity shares of the Target Company ("Offer Size"), representing 20% of the voting equity capital of the Target Company at the price of Rs 201/- for each share of the Target Company ("Offer Price"), to be paid in cash in accordance with the provisions of the regulations & subject to the terms & conditions mentioned in the Letter of Offer.

Schedule of Activities

Specified Date: July 20, 2007

Date of Opening of the Offer: August 22, 2007

Date of Closing of the Offer: September 10, 2007

Source : Equity Bulls

Keywords