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Our Bureau

Mumbai, Sept 8

The board of HLL has approved the proposal for the merger of Modern Food Industries Ltd (MFIL) and its subsidiary Modern Food and Nutrition Industries (MFNIL) with itself with effect from October 1, 2006.

In terms of the scheme of amalgamation, the entire shareholding of the two companies would stand cancelled and no valuation exercise or recommendation of share exchange ratio made.

The HLL board also approved the demerger of the non-functional factory land at Shamnagar and Jamnagar and the vacant leasehold land at Devarshola into three separate resulting companies with effect from October 1.

More Stories on : Mergers & Acquisitions | Food & Dairy Products | Hindustan Lever Ltd

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