GTC Plans Businesses Demerger

Source from:  tr.itsmyiq.com Mar 5, 2008 03/06/2008

GTC Industries' board of directors has granted approval in-principle to demerge its tobacco and real estate businesses into two separate entities, according to a Times of India report. The demerged entities would be listed separately on the stock exchanges in India. Commenting on the development, GTC's chairman, Sanjay Dalmia, said: "The demerger 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 demerger keeping the interest of the shareholders in mind." Enditem