German firm to buy Bombay Oxygen

MUMBAI, June 26: Messer Griesheim GmbH of Germany has made an open offer to acquire 20 per cent of the equity capital of Bombay Oxygen Corporation at a price of Rs 3,000 per share.

If the public offer materialises, the German group will have around 50 per cent holding in the company. In a bid to acquire about 30 per cent of the equity capital of the company, the group recently entered into an agreement with Shyam Ruia, the promoter, and his associates to acquire about 45,001 equity shares at a price of Rs 3,000 per share.

Griesheim is the parent company of the global Messer Group. The Messer group is owned by Hoechst AG one of the world’s largest pharmaceutical and chemical companies. Both Bombay Oxygen and the acquirer have interests in industrial gases, application technology, gas systems and cutting and welding.