Friday, August 12, 2016

ABNL TO MERGE WITH GRASIM

Aditya Birla Group plans to merge Aditya Birla Nuvo with Grasim Industries to create a nearly Rs 60,000-crore diversified entity.

As part of the plan, financial services business of the merged entity will be hived off and merged with Aditya Birla Financial Services Ltd , a wholly-owned arm of ABNL and will be listed subsequently.

ABNL will get three new equity shares of Grasim for every 10 equity shares held.


For demerger of financial services business into ABFSL, each shareholder of Grasim (post merger) will receive seven equity shares in ABFSL for every one equity share held in Grasim.

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