Home > business, india, oil & petroleum industry > RIL-Reliance Petroleum Ltd merger finalised

RIL-Reliance Petroleum Ltd merger finalised

Reliance Industries Limited (RIL) and Reliance Petroleum Ltd (RPL) merger has been finalised.

As per the terms of the merger RPL shareholders will be getting one RIL share for every 16 shares held. The merger ratio is slightly in favour of RPL and will be effective from April 1, 2008.

RIL will also extinguish treasury stock following the merger.

Chairman and Managing Director of RIL Mukesh Ambani said that the merger followed the “enduring philosophy of creating shareholder value”.

Ambani said that they will issue 6.92 crore shares to RPL shareholders following merger.

RIL and RPL board met on Monday and finalised the merger.

[ Contimue reading original article posted on IBNLive ]

Advertisements
  1. No comments yet.
  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: