Holcim postpones open offer for Ambuja Cements

Holcim postpones open offer for  Ambuja Cements
Published: 19 October 2007

Holcim Ltd has postponed an open offer to buy a further 20 per cent stake in cement manufacturer  Ambuja Cements Ltd.
 
The offer, which was scheduled to open October 18, has been postponed till further notice in this regard, DSP  Merrill Lynch, manager to the open offer, today informed the National Stock Exchange in a communique.  
 
The shareholders of  Ambuja Cements Ltd were informed about the corrigendum issued by DSP  Merrill Lynch.
 
Holcim, which already owns 36 per cent in Ambuja Cements, had said in August it planned to buy 20 per cent more, from the public shareholders at Rs 154 each, beginning Oct. 18.