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INTL TRACTORS BIDS FOR PUNJAB TRACTORS (plans acquiring jointly with Renault).

Asia Africa Intelligence Wire

| February 01, 2003 | COPYRIGHT 2003 Financial Times Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

(From India Business Insight)

International Tractors (IT) has submitted its expression of interest for acquiring 23.6 percent stake in Punjab Tractors (PT) of Punjab State Industrial Development Corporation.

It is planning to acquire PT in partnership with Renault.

The company could form a consortium at a subsequent date for the purpose.

The networth for a consortium is required to be higher than the minimum networth of Rs200 ...

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