Early last month a deal was signed between Reliance Industries (RIL) and Reliance Petroleum (RPL) to amalgamate the two businesses in what will be the largest merger to date in India. The merger is being achieved through a court-sanctioned scheme of arrangement. It is subject to customary conditions such as shareholder and creditor agreement and relevant high court approvals.
According to a statement from RIL, RPL shareholders will receive one fully paid equity share of Rs10 (20 US cents) each in RIL for every 16 fully paid equity shares of Rs10 each in RPL held when the merger is complete. RIL accordingly plans to issue 69.2 million new equity shares to existing RPL shareholders.
You must be a
subscribersubscribersubscribersubscriber
to read this content, please
subscribesubscribesubscribesubscribe
today.
For group subscribers, please click here to access.
Interested in group subscription? Please contact us.
你需要登录去解锁本文内容。欢迎注册账号。如果想阅读月刊所有文章，欢迎成为我们的订阅会员成为我们的订阅会员。
