Ceat shareholders OK demerger proposal
Ceat's shareholders approve demerger of its investment arm CHI Investment into a separate entity.
By PTI |
MUMBAI: Tyre maker Ceat Ltd on Saturday said its shareholders have approved the demerger of its investment arm CHI Investment into a separate entity.
The Bombay High Court had earlier approved the company's demerger proposal, Ceat informed the Bombay Stock Exchange.
Under the Scheme, investment operations of the company would be transferred to CHI Investments, it said.
Ceat said the demerger would enable it to optimise performance by concentrating on competencies and enhance value for the shareholders.
Post demerger, the company's shareholder would get 25 shares in CHI and 75 shares in Ceat for every 100 shares held on record date.
The Bombay High Court had earlier approved the company's demerger proposal, Ceat informed the Bombay Stock Exchange.
Under the Scheme, investment operations of the company would be transferred to CHI Investments, it said.
Ceat said the demerger would enable it to optimise performance by concentrating on competencies and enhance value for the shareholders.
Post demerger, the company's shareholder would get 25 shares in CHI and 75 shares in Ceat for every 100 shares held on record date.
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