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India's Aditya Birla Nuvo to buy Apollo Sindhoori

Thu Aug 28, 2008 1:38am EDT

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MUMBAI, Aug 28 (Reuters) - Diversified Indian firm Aditya Birla Nuvo Ltd (ABRL.BO) said on Thursday its board had approved the acquisition of 56 percent in Apollo Sindhoori Capital Ltd APOL.BO for 1.99 billion rupees ($46 million).

Aditya BIrla Nuvo, which has interests in cement, apparel and financial services, will also make an open offer for a further 20 percent in Apollo Sindhoori, as required by law, it said in a statement. ($1=43.7 rupees) (Reporting by Rina Chandran; Editing by Ranjit Gangadharan)



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