INDIA BUSINESS WORLD - EXIDE PICKS UP 51% IN LEADAGE ALLOYS INDIA LTD (LAIL) FOR RS 34 CRORE

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INDIA BUSINESS WORLD - JUNE 1^st - JUNE 30^th - 2008

EXIDE PICKS UP 51% IN LEADAGE ALLOYS INDIA LTD (LAIL) FOR RS 34 CRORE

Exide Industries has picked up a 51% stake in Leadage Alloys India Ltd (LAIL), an unlisted Bangalore-based lead smelting company belonging to the Kumars, for Rs 34 crore. Following the agreement, Leadage Alloys India along with their associates will continue to hold the balance 49% of the company’s total paid-up capital. Besides, Kumars will be in-charge of the company’s day-to-day operations. The acquisition comes on the heels of Exide Industries’ buyout of another unlisted Punebased lead-smelting company Tandon Metals for Rs 25 crore.

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