Crompton Greaves Ltd has informed the Exchange that at the Board Meeting held on January 28, 2010 (1)The Board of Directors have granted their approval to the divestment of the Company's 59% shareholding in Malanpur Captive Power Limited, comprising 1,10,22,000 equity shares of Rs. 10/- each to Avantha Power & Infrastructure Limited (APIL), at an aggregate price of Rs. 514 million, which works out to Rs.46.63 per share. (2) The Board of Directors have approved a Scheme of Amalgamation of Brook Crompton Greaves Limited (a wholly owned subsidiary) with Crompton Greaves Limited. The amalgamation will be effective from April 01, 2009 (Appointed Date), subject to receipt of all Regulatory approvals.
Source: NSECourtesy moneycontrol.com
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