Gulf PetroChem Done Buying Sah


Gulf PetroChem confirmed that its open offer to acquire publicly held shares of Sah Petroleums stock ended Oct. 28. The United Arab Emirates-based company described the campaign as a success but did not disclose how much of the publicly held shares it acquired. Twenty-six percent of Mumbai-based Sahs stock was held by public shareholders when Gulf PetroChem offered to buy them for Rs 5 per share. Gulf PetroChem had previously purchased 72 percent of shares from the Sah family.

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