Robert Bosch makes open offer for remaining 20 per cent in Indian unit
29 Feb 2008
Mumbai: Robert Bosch of Germany has made an open offer to acquire 20 per cent equity in Bosch Chassis Systems India Ltd, to take its holding in the Indian unit to 100 per cent, and possibly delist the firm from local stock exchanges.
The German industrial group has set a floor price of Rs415 a share in the offer, which was made in a public announcement.
Robert Bosch, which holds 80 per cent in the Indian arm through Robert Bosch LLC and Robert Bosch Investment Nederland BV, had said it would delist the Indian arm in order to enhance operating flexibility.
The bid opens March 24 and closes March 28.
Robert Bosch manufactures vehicle components such as starters and electric steering drives.
The Bosch Group is a leading global supplier of technology and services, operating in the areas of automotive and industrial technology, consumer goods, and building technology.
Bosch Limited is the flagship of Bosch in India. Founded in 1951, Bosch Limited has grown over the years to become India's largest auto component manufacturer, and one of the largest in the world. It is also the second largest Indo-German company in India.
Its business divisions include: diesel systems, gasoline systems, starters and generators, electrical drives, automotive accessories, test equipment, auto electricals, car multimedia, power tools, packaging machines, special purpose machines, security aystems
With headquarters in Bangalore, the company has manufacturing units in Bangalore, Nashik, Jaipur, and Naganathapura.