Pacific Dunlop Ld - Acquisition, etc.
01 6월 1998 - 5:44PM
UK Regulatory
RNS No 2251d
PACIFIC DUNLOP LIMITED
1st June 1998
ANSELL INTERNATIONAL IN MAJOR
INDIAN ACQUISITION
Ansell International, a division of Pacific Dunlop Limited, is set to acquire a
74.9 per cent shareholding in leading Indian medical glove manufacturer Kemwell
International Limited for US $7.5 million.
The acquisition, by public offer and private agreement in India, will provide
significant further low-cost export capacity for Ansell and will extend its
presence in the very large Indian domestic medical glove market.
The acquisition is in two parts:
* The acquisition of between 51.49 per cent and 54.44 per cent of the issued
shares pursuant to the terms of a negotiated share purchase agreement; and
* The acquisition of up to 23.41 per cent of the issued shares in Kemwell held
by the general public pursuant to the terms of a public share offer.
Kemwell sales for the 1998 financial year were about US$8 million.
Ansell also has a 50-50 joint venture in India with Raymond Limited. The
business has 25 per cent of India's domestic branded condom market and a
manufacturing plant at Aurangabad.
For further information: John Hine
General Manager Corporate Affairs
Pacific Dunlop Limited
613 9270 7270
61 0412 254 952
END
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