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ABB plans Rs 4,400-cr buyback offer to raise stake to 75%

Posted on: May 18th 2010 in Market News.

ABB, a global power and automation technology group, will offer shareholders of ABB Ltd, its listed subsidiary in India, Rs 900 per share to increase stake in the company to 75 per cent from the present 52.1 per cent. The aim is to facilitate the long-term development of ABB’s busin…

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