RE:Rs. 500 crore is nothing
by Gopala Ganesh on Jul 25, 2007 10:46 PM Permalink
Rs. 500 crore is not peanuts; however, with (yes, good) flats selling for 2-4 crores in Noida, 50% of a major Indian refinery is a VERY good deal for Mr. Mitta, a no brainer! At $124 million, less than a Boeing 777, a great deal! With automobiles multiplying like cockroaches on India's roads, the market for Mr. Mitta's refinery is assured for the next 50 years at least and beyond. The location in Punjab, close to Haryana, Delhi, Himachal etc, a very prosperous region is also very good. All in all, a great deal for the Mittals! Congratulations and way to go! - gg
RE:Rs. 500 crore is nothing
by madhusudhana chavali on Jul 26, 2007 12:03 AM Permalink
gg, 500 crore is not for 49% stake in the oil refinery. its only the first instalment. it is 18,919 cr refinery and 49% of it will be close to 9000 cr which is more than $2billion. what tony meant was being the 5th richest man in the world and his flat in london worth ?60 m ( $120) same as what he paid now is peanuts for him.
