Zuari Fert, others make open offer for 26% in MCF

Written By Unknown on Selasa, 13 Mei 2014 | 10.56

Zuari owns 16.43 percent in MCF while promoter Mallya holds about 22 percent in the company.

Moneycontrol Bureau

Zuari Fertilisers, along with Vijay Mallya firms UB Holdings , Kingfisher Finvest and McDowell Holdings has made an counter offer to acquire 26 percent in  Mangalore Chemicals at Rs 68.55 per share. This is Rs 5.55 more than the Rs 63 per share that  Deepak Fertilizers is willing to pay for a 26 percent stake in the company through an open offer announced last week.

Zuari owns 16.43 percent in MCF while promoter Mallya holds about 22 percent in the company. Deepak Fertilizers own 24.46 percent in MCF.

Even if Zuari founder Saroj Poddar succeeds in acting as a white knight for Mallya in his fight against Deepak Fertilizers, Mallya is most likely set to lose control of one of the UB Group's last crown jewels.

UB Holdings stock price

On May 13, 2014, at 09:24 hrs United Breweries Holdings was quoting at Rs 31.05, up Rs 0.40, or 1.31 percent. The 52-week high of the share was Rs 42.70 and the 52-week low was Rs 17.85.


The company's trailing 12-month (TTM) EPS was at Rs 169.44 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 0.18. The latest book value of the company is Rs 211.90 per share. At current value, the price-to-book value of the company is 0.15.


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