ITC to consider demerger of Wimco Limited with itself

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ITC to consider demerger of Wimco Limited with itself
Multi-business conglomerate ITC has said it will mull over proposal for demerger of West Indian Match Company's (Wimco) arms, Safety Matches Business and Agri (Forestry) Business, with itself.

The company at the Board of Directors meeting, which will held on August 28, 2013, to consider a proposal for demerger of the Non-Engineering Business comprising Safety Matches Business and Agri (Forestry) Business of Wimco Limited (a subsidiary of the Company) into the company," ITC said in a filing to Bombay Stock Exchange.

ITC Limited along with Russell Credit Limited, a wholly owned subsidiary, holds 98.21 per cent of the equity share capital of Wimco Limited.

Dion Global Solutions Ltd.

Read more about: itc, wimco, russell credit limited
Story first published: Monday, August 26, 2013, 12:21 [IST]
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