Adani Enterprises to de-merge businesses

Adani Enterprises said that 1 shr in Adani Transmission for 1 held by shareholder in AEL

Jan 30, 2015 02:01 IST India Infoline News Service

The board of directors of Adani Enterprises Ltd. (AEL) unanimously approved the scheme of demerger of the diversified businesses of 
the company. 
Adani Enterprises Limited together with its subsidiaries Adani Ports and Special Economic Zone Limited (“APSEZ”) and Adani Power Limited (“APL”) today announced a composite Scheme of Arrangement (“Scheme”) for the demerger of the ‘Port Undertaking’ of AEL into APSEZ and demerger of the ‘Power Undertaking’ of AEL into APL and the emerging simplification of the corporate structure of the Adani Group. 
The Scheme also involves the demerger of the ‘Transmission Undertaking’ of AEL into Adani Transmissions Limited (“ATL”), a wholly owned subsidiary of AEL and the resulting listing of ATL on the BSE Limited and the National Stock Exchange of India Limited. Further Adani Mining Private Limited (“AMPL”), a wholly owned subsidiary of AEL is proposed to be merged into AEL under the aforesaid Scheme.

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