US co offers to buy into Exide: A move towards settlement on brand name use?

(From Business Line)

BANGALORE, July 3. THE $3.5 billion Exide Technologies, the US-based battery giant, has offered to buy a strategic minority stake in the Rajan Raheja controlled Indian rival - Exide Industries Ltd.

This is seen as part of an out-of-court settlement between the American major and the domestic company over the use of the Exide brand name in the country.

Mr Albrecht Leuschner, Chairman of Exide Holdings, Europe SA, said his corporation would be interested in picking up stake in Exide Industries Ltd even as negotiations were on between the two parties on restarting the technology transfer pact.

Exide Technologies had …