BUSINESS

Buys stake in Stewarts & Lloyds

MUMBAI, NOV. 29. Indian Oiltanking Ltd (IOTL), a joint venture of Indian Oil Corporation and Oiltanking of Germany, has acquired 54.9 per cent stake in Stewarts & Lloyds of India from Tata Steel and associates. After complying with the provisions relating to the open offer and other related matters and obtaining final clearance from the Securities and Exchange Board of India, IOTL has finally acquired 54.9 per cent of the paid-up capital in the company, Stewards & Lloys informed the Bombay Stock Exchange here.

PTI

Recommended for you