T Rowe Price Cuts Major Stake In Emami, Credit Suisse Buys
Credit Suisse (Singapore) has bought over 23.67 lac shares of Emami Ltd.
T Rowe Price International Inc. sold majority of its 1.18% stake by offloading more than 17.71 lac shares.
The buy and sale price was R595 per piece which amounted to over R140.84 Cr for Credit Suisse and R105.46 Cr for the seller, T Rowe Price.
Other major stakeholders in the company include Smallcap World Fund (3.44%) and Mathews India Fund (2.16%) as per the latest shareholding pattern (December 2012).
Emami, the Bengal born conglomerate, has business interests in FMCG, paper, writing instruments, edible oil and cultivation, pharmacy, cement, real estate and retail among other things.
It has a portfolio of over 300 products in various SKU and covers all the states with 32 depots across India.
Credit Suisse in the past year has made short-term bets on Indian scrips.
It invested R62 Cr in United Spirits in June last year and sold majority of that stake for almost double the price in October.
It then bought around 0.60% stake in HDIL in September last year. In January this year it halved its constructed stake by selling 2.36% stake.
FMCG player Hindustan Lever was recently planning to sell its residential properties across the metro cities of Mumbai, Kolkata and Hyderabad.
Times group holding firm Bennett, Coleman & Company Limited (BCCL) had bought the option to buy upto 12% stake in Dalmia Continental, maker of Leonardo olive oil, earlier this month.
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 2013-03-20 | T Rowe Price (Part Exit) - Emami - Credit Suisse | Capital Market |
Credit Suisse(Singapore) Limited |
25.96 |
| 2010-06-24 | Manufacturing Plant (Egypt) - Emami Ltd | M&A |
Emami Limited |
2.60 |
| 2010-04-08 | Emami-Looking for seller | M&A |
Emami Limited |
- |
| 2009-07-06 | Emami-QIP | IPO / Offerings | 64.29 | |
| 2009-03-01 | Parikh Family-Emami Ltd | M&A |
Emami Limited |
- |
| 2008-06-01 | Zandu Pharmaceutical - Emami Ltd. | M&A |
Emami Limited |
53.52 |
| 2008-06-01 | Emami Limited-Openoffer | IPO / Offerings | 59.64 | |
| 2005-03-10 | Emami Limited - FPO | IPO / Offerings | 8.03 |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 23/05/2013 | Capital Market | Perfect Homfin Private Limited | JHS Svendgaard Laboratories Limited | 0.05 | Completed |
| 23/05/2013 | Capital Market | JHS Svendgaard Laboratories Limited | 0.05 | Completed | |
| 22/05/2013 | Capital Market | Pretto Leather Industries Limited | - | Completed | |
| 20/03/2013 | Capital Market | Credit Suisse(Singapore) Limited | Emami Limited | 25.96 | Completed |
Company | ||||
| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Emami Limited |
R S Agrawal R S Goenka S K Goenka Priti Sureka Harsha V Agarwal Aditya V Agarwal Mohan Goenka |
687, Anandapur, EM Bypass |
Hindustan Unilever Limited Fem Care Pharma Limited |
http://www.emamiltd.in |
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