IFCI meets suitors

New Delhi, Oct. 3: Eight suitors aiming to pick up a 26 per cent stake in the Industrial Finance Corporation Of India (IFCI), including three consortia, took part in a pre-bid meeting today. The meeting was held to familiarise the bidders about the company, an IFCI official said. After the meeting, a representative of Standard Chartered Bank, which is participating with WL Ross, Goldman Sachs and HDFC, said, “We are yet to decide whether we will buy the stake or not.”

UB move

New Delhi, Oct. 3: UB Group, in a bid to strengthen the management of its beverage companies, has changed key positions in Whyte & Mackay, United Spirits and United Breweries. Ashwin Malik has been appointed the CEO of Whyte and Mackay.

ArcelorMittal

Moscow, Oct. 3: ArcelorMittal will bid in an auction for the world’s largest untapped coking coal deposit with Russian diamond monopoly Zao Alrosa. The two companies will participate in an auction via a Russian-registered venture, Zao Yakutskaya Ugolnaya Kompaniya, on October 5.

IMF post

Washington, Oct. 3: According to media reports, a group of Anglo-African countries, led by Nigeria, left the Indian camp in favour of Italy in the second round of voting for the post of International Monetary and Finance Committee’s (IMFC) chairman.

BPCL stake

New Delhi, Oct. 3: Royal Dutch Shell will buy Bharat Petroleum Corp's (BPCL) 49 per cent stake in lubricant marketing firm Bharat Shell for Rs 145.80 crore.