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Provider: Reuters Investment Profile

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Societe B I C SA Announces Acquisition of Cello Pen Seventh Entity

Monday, 6 May 2013 02:18am EDT 

Societe B I C SA announced that BIC Group and Cello Group have jointly filed an agreement with the Bombay High Court to allow BIC Group to acquire the remaining 40% of the last (7th) stationery entity of Cello Group. The Court after reviewing the filling has rendered the agreement enforceable. The agreement provides for closing before the end of 2013 based on the original term and conditions. BIC Group has a call option to increase its ownership in Cello Pens from 40% to 55% by October 2013. Financial terms were not disclosed. 

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-1.6 -1.66%
24 Oct 2014