December 2016 Current Affairs

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Aditya Birla Nuvo, Grasim to merge, creating ₹60000-crore behemoth

Aditya Birla Nuvo, Grasim to merge, creating ₹60000-crore behemoth
13 August 2016 Current Affairs: The Aditya Birla Group has announced a plan to merge Aditya Birla Nuvo Ltd (ABNL) with Grasim Industries to create an entity with combined revenue of Rs. 60,000 crore. 

Under this plan, the financial services business will be demerged into a newly formed company — Aditya Birla Financial Services Ltd (ABFSL), which will be listed separately. The transaction will be completed by the end of the current fiscal, but the financial services arm will be listed next year.

The deal will be done in two steps. First, ABNL will be merged into Grasim, that will be followed by the demerger of the financial services business. The merger will also consolidate the cross-holding within the group as both companies own stakes in Idea Cellular, Aditya Birla Fashion and Retail and Hindalco Industries. 

However, Grasim has a cash surplus of rs. 500 crore, while Aditya Birla Nuvo has net debt of ₹2,500 crore. So, the restructured Grasim will have net debt of ₹2,000 crore after the merger.


December 2016 Current affairs

November 2016 Current affairs
30 NOV
NEWS
29 NOV
NEWS
28 NOV
NEWS
26 NOV
NEWS
25 NOV
NEWS
24 NOV
NEWS




October 2016 Current affairs
31 OCT
NEWS
27 OCT
NEWS
26 OCT
NEWS
25 OCT
NEWS
24 OCT
NEWS
22 OCT
NEWS

September 2016 Current affairs
30 SEP
NEWS
29 SEP
NEWS
28 SEP
NEWS
27 SEP
NEWS
26 SEP
NEWS
24 SEP
NEWS

August 2016 Current affairs
31 AUG
NEWS
30 AUG
NEWS
29 AUG
NEWS
27 AUG
NEWS
26 AUG
NEWS
25 AUG
NEWS



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