ITC In Talks To Buy RDB's Cigarette Division
ITC Limited is rumored to be in talks with RDB Industries Limited to buy its de-merged cigarette division for about Rs 300-350 Cr.
ITC had made an offer in 2006 to buy the division for Rs 250 cr which was rejected by the management of RDB.
Transaction Reference: ET
RDB Industries Limited is a Kolkata-based company engaged in the real estate business and cigarette manufacturing.
The company had acquired in National Tobacco Company in 1992 which is still not a profitable unit.
RDB de-merged its cigarette division in April this year. Its Chairman and Managing Director Sunderlal Dugar has resigned and LB Fernandes has taken over.
Recently, RDB held talks with Japan Tobacco Inc for selling the cigarette division.
In 2007, ITC has acquired 100% stake in King Maker Marketing Inc which is engaged in the business of distribution of tobacco products and all its brands are made exclusively by ITC at its cigarette manufacturing facility located in Bangalore.
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 13/08/10 | RDB Industries( Cigarette Divison) - ITC | M&A | ITC Limited | 64.33 |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 20/01/12 | IPO / Offerings | Hindusthaan Eco Ventures Limited | - | Planned | |
| 16/01/12 | M&A | Malabar Trading Company Limited | Protect Nature Private Limited | - | Completed |
| 09/01/12 | IPO / Offerings | Octant Industries Limited | 2.48 | Announced | |
| 04/01/12 | IPO / Offerings | Vishwanath Sugar And Steel Industries Limited (Formerly Vishwanath Sugars Limited) | 70.34 | Announced |
Company |
||||
| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| RDB Industries Limited | Sunder Lal Dugar | 8/1, Lal Bazar Street (1st floor) Kolkata - 700001 | Golden Tobacco Limited | www.rdbindia.com |
| ITC Limited | Yogesh Chander Deveshwar | Virginia House, 37,Jawaharlal Neharu Road, Kolkata-700071. |
Sundaram Multi Pap Limited Godfrey Phillips India Limited Gits Food Products Private Limited |
www.itcportal.com |
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