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MARKET WATCH: B.K. Modi co acquires 51% stake in Wall Street Finance.
from BUSINESS LINE, September 09, 2009 Mumbai, Sept. 8 - Another business house is looking to acquire forex and money transfer firm Wall Street Finance after the exit of Anil Ambani Group company Reliance Money.
Mr B.K. Modi-owned Spice Investment and Financial Advisors has acquired 51 per cent stake in Wall Street Finance. The company came out with an open offer to pick another 20 per cent in Wall Street Finance at Rs 55.5 a share, which is lower than the market price of Rs 60.8.
According to SEBI norms, if an acquirer buys more than 14.99 per cent in a company, it has to make a mandatory open offer to buy at least an additional 20 per cent.
The company …
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- SPICE INVESTMENTS (makes an open offer to shareholders of Wall Street Finance...
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Magazine article from: India Business Insight
September 9, 2009
700+ words
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- B.K.MODI CO ACQUIRES 51% STAKE IN WALL STREET FINANCE (makes open offer for...
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Magazine article from: India Business Insight
September 9, 2009
700+ words
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Magazine article from: India Business Insight
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- RESULTS-WALL STREET FINANCE LTD (a net profit of Rs0.15 crore for the quarter...
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News wire article from: Asia Africa Intelligence Wire
July 4, 2004
700+ words
