Financial Daily from THE HINDU group of publications
Saturday, Dec 27, 2003
Financial Daily from THE HINDU group of publications Saturday, Dec 27, 2003 |
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NBFCs Money & Banking - Mergers & Acquisitions IndusInd-ALF merger at 9:4 swap cleared Our Bureau
Chennai , Dec. 26 THE board of directors of Ashok Leyland Finance on Friday approved the share exchange ratio recommended for the merger of the company with IndusInd Bank. The joint valuers have recommended a ratio of nine equity shares of IndusInd Bank for every four held, for the shareholders of Ashok Leyland Finance. The company has informed the stock exchange that the proposal, however, needs to get the approval of shareholders and the Chennai High Court. Both Ashok Leyland Finance and IndusInd Bank belong to the Hinduja group of companies.
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