GTC to demerge into tobacco and real estate
GTC Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 29, 2008, inter alia, has considered and granted its in-principle approval to demerge the Tobacco business and the Real Estate business into two separate entities. The De-merged Entities would be listed separately on the Stock Exchanges in India.
Commenting on the same, Mr Sanjay Dalmia – Promoter GTC Industries said: “We are happy to announce the De-Merger in the interest of our Shareholders; as this would unlock unique shareholder value across both Verticals – Tobacco as well as Real Estate. The Company is in the process of examining various options for working out a suitable scheme of De-merger keeping the interest of the shareholder in mind”.
Sourced From: Mutual Public Relations
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