Date:06/11/2004 URL: http://www.thehindubusinessline.com/2004/11/06/stories/2004110602381300.htm

Back Mitsui hikes stake in Cholamandalam Risk

Our Bureau

Chennai , Nov. 5

CHOLAMANDALAM Investment & Finance on Friday informed the Bombay Stock Exchange of the change in the status of Cholamandalam Risk Service. Cholamandalam Risk Service is no longer its subsidiary as Mitsui Sumitomo has increased its equity stake in the company to more than 50 per cent.

The notice said that Mitsui was issued 5 lakh additional shares in Cholamandalam Risk. Prior to the issue, Mitsui and Cholamandalam Investment had an equal stake in the company. Cholamandalam and Mitsui have a joint venture in general insurance too, where the former has majority equity stake.