Alfa Laval hikes bid for Indian subsidiary

STOCKHOLM, May 16 (Reuters) Swedish engineering group Alfa Laval said on Wednesday it was raising its bid for the outstanding shares in its Indian subsidiary.

Alfa Laval said in a statement it was raising its public offer to 1,300 rupees (.78) per Alfa Laval India share from the initial offer of 875 rupees.

The Swedish firm owns 64 percent of Mumbai-listed Alfa Laval India which has around 11,000 minority shareholders. Alfa Laval repeated it intended to raise its stake to 90 per cent.

The public offer was open from May 7 through May 26, the firm said.

REUTERS PM RS1641