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Coimbatore, Nov. 29 Prime Focus Ltd has said that the company is close to reaching a final agreement to acquire Post Logic Studios (with offices in Hollywood and New York) and Frantic Films (with offices in Los Angeles, Winnipeg and Vancouver) for a total consideration of $43 million, pending finalisation of deal structure and applicable regulatory and statutory approvals.

United Spirits Ltd’s board of directors considered and approved the merger of Shaw Wallace & Company Ltd (SWC) and Primo Distributors Private Ltd(Primo) with United Spirits Ltd. The appointed date for the merger will be April 1, 2007. As Primo is a wholly owned subsidiary of the company, there is no consideration in respect of merger of Primo with USL. In respect of merger of SWC, the company shall allot shares in the ratio of 4 fully paid-up equity shares of Rs 10 each for every 17 equity shares of Rs 10 each held in SWC. The board also approved the scheme of merger of Zelinka Limited (Zelinka) with the company. As Zelinka is a wholly owned subsidiary, there is no consideration in respect of merger of Zelinka and the appointed date for the merger will be April 1, 2007. The scheme is subject to requisite approvals.

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