rediff.com
REAL-TIME QUOTE
Enter Company or MF
e.g. Tata motors, Reliance MF, 500570
ADITYA BIRLA NUVO LTD. - Clarification from Aditya Birla Nuvo Ltd
< Back
21 Jul 2014
The Exchange had sought clarification from Aditya Birla Nuvo Ltd with respect to the news article in the Media (ET Now - July 15, 2014) that &quot;Aditya Birla Group plans to demerge retail business from Aditya Birla Nuvo. Also the group plans to raise $500mn by selling 20% in retail business. The Group to consider merger of 3 Pantaloon - Retail, Jayashree and Madura.&quot;&lt;br/&gt; &lt;br/&gt;Aditya Birla Group in talks wid PE funds Blackstone, Carlye to sell minority stake in the company&quot;.&lt;br/&gt;&lt;br/&gt;Aditya Birla Nuvo Ltd has replied as under:&lt;br/&gt;&lt;br/&gt;&quot;We keep evaluating opportunities that come our way in the ordinary course of business. We confirm that there has been no release of any information regarding any merger or restructuring to the media even as of this moment. &lt;br/&gt; &lt;br/&gt;We would as before, and in line with our high governance standards, inform you of any such developments as soon as Board of Directors approve any decision before informing the media.&lt;br/&gt;&lt;br/&gt;We regret we cannot comment on the reports of ET NOW.&quot;
View all announcements for ADITYA BIRLA NUVO LTD. Source: BSE India