Brief: SORIL Infra Resources Approves Scheme To Streamline Operations And Ownership Structure

Indiabulls

29/01/2019 14:11

Jan 29 (Reuters) - SORIL Infra Resources Ltd  SORI.NS :
    * APPROVED SCHEME BETWEEN CO, INDIABULLS INTEGRATED SERVICES
AND
THEIR UNITS AND INDIABULLS PHARMACEUTICALS
    * SCHEME AIMS TO STREAMLINE OPERATIONS AND OWNERSHIP
STRUCTURE
    * PUBLIC SHAREHOLDERS OF COMPANY WILL ALSO GET DIRECT
OWNERSHIP IN
LIFE AND NON-LIFE INSURANCE BUSINESSES
    * DEAL TO MERGE CO, ITS UNIT AND CERTAIN OTHER UNITS OF
INDIABULLS
INTEGRATED SERVICES INTO INDIABULLS INTEGRATED SERVICES
    * INDIABULLS INTEGRATED SERVICES TO ISSUE SHARES TO CO'S
SHAREHOLDERS IN SWAP RATIO OF 1 SHARE OF IBULISL FOR 1 SHARE
HELD IN CO
    * DEAL ALSO TO DEMERGE NON-INSURANCE BUSINESSES OF MERGED
IBULISL
INTO INDIABULLS ENTERPRISES LTD
    * EQUITY SHARES OF  INDIABULLS ENTERPRISES LTD WILL BE
LISTED ON
NSE & BSE
    * DEAL TO ALSO DEMERGE ON-GOING PHARMACEUTICAL BUSINESS
UNDERTAKING OF INDIABULLS PHARMACEUTICALS INTO INDIABULLS
PHARMACARE

Source text: http://bit.ly/2HEvHOm
Further company coverage:  SORI.NS 

 ((Reuters.Briefs@thomsonreuters.com;))