Swedish Match ups stake in Wimco

Mumbai, Oct 4: The Jatia group has sold its 21.89 per cent stake in Wimco Ltd in favour of Swedish Match AB and its subsidiary based in Singapore. With this, the foreign company’s stake in Wimco will touch 74 per cent.

Swedish Match Singapore Pte Ltd, a subsidiary of Swedish Match AB, has acquired 1,13,82,800 equity shares in Wimco representing 21.89 per cent of its paid up capital on September 27, 2000 from AVP Trading Pvt and Plash Food Pvt Ltd, representing the Jatia Group, according to a notice issued to the stock exchanges.

The Indian company till recently was under the joint control of the Jatia Group, prior to the acquisition of the stake. After this transfer of shares Swedish Match Singapore Pte Ltd and its subsidiaries, Haravon Investments Pte Ltd and Seed Trading Pte Ltd, collectively hold 74 per cent of the paid up equity capital of Wimco.