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SPBV HIKES STAKE IN SOLVAY PHARMA INDIA

October 10, 2005

The Solvay group on Monday said that it has hiked its stake in Solvay Pharma India Ltd to 68.85 per cent with the Netherland-based subsidiary Solvay Pharmaceuticals BV (SPBV) acquiring over 2.47 lakh shares more. The acquisition was in pursuant to the order of Supreme Court, Solvay Pharma India informed the Bombay Stock Exchange on Monday. With SPBV picking up 247,972 shares, comprising 4.91 per cent of the equity capital, the stake of Solvay group in the company has gone up to 68. 85 per cent from the existing 63.94 per cent, it said.

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