Mumbai, May 29, 2017: The Board of Directors of the Company, at its meeting held recently, decided to commence an evaluation of a potential merger between the Company and Ambuja Cements Ltd with a view to combine the strengths of both businesses so as to benefit all stakeholders.
A special committee of directors, of which majority are independent directors, has been constituted to commence the evaluation.
No decision to merge has been taken and our Board will decide on a merger upon receiving recommendation from the special committee and the audit committee.
Corporate Comm India(CCI Newswire)
