Entries Tagged 'Mergers' ↓

Deccan Aviation and Kingfisher Airlines have decided to merge both the companies in to a single entity to cut operational costs and increase profitability. Both the company’s boards have approved the merger,valuation and merger swap ratio is to be worked out by the global accounting firm KPMG. The combined entity would be known under the name of Kingfisher where Deccan would offer low cost services to customers and Kingfisher would offer premium services to the customers.

Air Deccan will continue to be listed incorporating the businesses of both Kingfisher Airlines and Deccan itself but the listed entity’s name will be changed to Kingfisher Airlines in which Mallya would act as the Chairman and CEO, Captain G R Gopinath as the Vice-Chairman.

More information regarding the Kingfisher and Deccan Merger Ratio and Record date will be known soon.

Shaw Wallace & Company Limited in an annoucment made to the stock exchanges, has informed that the board of the directors have agreed to the merger proposal with United Spirits Limited.

Shaw Wallace Share holders will have to surrender 17 shares, and in return will get 4 shares in United Spirits Limited according to the merger proposal ratio.

Ankur Drugs & Pharma equity shareholders at their meeting held yesterday October. 08,2007 have approved the merger of the company with Vaibhav Healthcare.

Ankur Drugs & Pharma Ltd in its previous announcement made to the exchanges on 27-09-2007 has informed that a meeting of the Equity Shareholders of the Company will be held on October 08, 2007, for the purpose of considering and approving the Scheme of Amalgamation of Vaibhav Healthcare Pvt Ltd with the Company.

Ankur Drugs & Pharma in its previous results reported a tremendous rise in net profits at 54.81% that is Rs 90.20 Million from Rs 58.27 million in the same quarter for last year. Sales rose phenomenally at 60.47% to Rs 970.12 million, compared with the sales quarter numbers a year ago.

Shares of the company declined 6o paise, to close at Rs 399 and the total volume of shares traded at the BSE was 9,476 on Tuesday.