Carlson buy move
Mumbai, Jan. 13: Carlson Hotels Worldwide has acquired Radisson Hotel Management Services by hiking its stake in the company to 87 per cent for an undisclosed amount. Carlson has bought the shares of Umak Investment Company to gain a majority stake in the firm. The remaining 13 per cent in Radisson is held by private equity investors.
New Delhi, Jan. 13: Tata Steel’s European arm Corus has decided not to shut down one of the mills at its Teesside Cast Products plant, saving as many as 120 jobs from getting slashed.
New Delhi, Jan. 13: Power producer NTPC’s follow-on offer, which is expected to fetch the government about Rs 11,000 crore, is likely to open on February 3. “NTPC’s FPO will open on February 3 and close on February 5,” a senior finance ministry official said.
London/ Milan, Jan. 13: Italy’s Ferrero has decided not to bid for Cadbury Plc, further strengthening the case for Kraft Foods in its £10.5-billion ($17 billion) takeover bid for the British chocolatier.
Mumbai, Jan. 13: Industrial machinery maker Texmaco said its net profit rose 44.16 per cent to Rs 22.23 crore for the third quarter ended December 31, 2009, over the year-ago period.