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The open offer form Embassy Property Developments Pvt Ltd to the shareholders of MAC Charles (India) Ltd will open on December 13 and end on December 27.
The Bangalore-based realty firm has made an open offer to acquire a 24.7 per cent stake at Rs 670 a share, totaling to about Rs 217 crore.
The open offer was mandatore after the acquirer last week agreed to buy a 73.41 per cent stake in BSE-listed MAC Charles (India) Ltd from the hospitality company’s promoter CB Pardhanani for Rs 644.34 crore .
Investment bank o3 Capital Global Advisory Pvt Ltd is managing the open offer.
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