ABB India Wednesday said its board has given ‘in principle’ approval to segregate the power grids business from its other businesses.
“The Board of Directors of the Company discussed segregation of the Company’s power grids business from the other businesses conducted by the Company at its meeting held today. Following such discussions, the Board granted in-principle approval for the segregation…,” it said in a BSE filing.
Having discussed various options for structuring such segregation, the board determined that a court-approved demerger is the preferred option, it added.
The board authorised the management of the company to take preparatory steps in this regard, including the appointment of advisors and presentation of a detailed proposal for a demerger. Read More
Latest posts by Livemint (see all)
- ONGC Delivers Stellar Q3 Result, But Concerns Over Oil Subsidy Sharing Remain - February 19, 2019
- ABB India board approves hiving off power grids business - February 13, 2019
- Why oil remains central to India’s twin deficits - February 5, 2019