Suez Lyonnaise told to make open offer for Ondeo Nalco.

(From Business Line)

Byline: virtue of the acquisition of Nalco Chemicals US (Ondeo Nalco's erstwhile

KOLKATA, April 10. THE Securities and Exchange Board of India Chairman, Mr G.N. Bajpai, has ordered French water treatment and chemicals major, Suez Lyonnaise des Eaux - acquirer of controlling interest in the Ondeo Nalco India Ltd - to make public announcement for an open offer for 20 per cent of its stake under the takeover regulations.

As per the order, which became effective from Thursday, the announcement is to be made within 45 days. Further, the acquirer has been asked to treat April 9, 1999, as the reference date for calculation of the open …