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/ India News / 2009 / January 2009 / January 16, 2009 Vijay Mallyas UB Group gets nod to amalgamate Shaw Wallace |
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Vijay Mallya-promoted United Spirits on Friday said that it has received approval from the High Court at Calcutta for Shaw Wallace and Companys merger with its group.
Mumbai, Jan.16 : Vijay Mallya-promoted United Spirits on Friday said that it has received approval from the High Court at Calcutta for Shaw Wallace and Company's merger with its group.
Shaw Wallace, after its acquisition by the UB Group, would now come under a common entity known as United Spirits Ltd, which has 140 brands under its wings out of which, there are 15 millionaire brands growing at a rapid pace.
The UB group flagship company United Spirits in a filing to the Bombay Stock Exchange stated that the High Court at Calcutta on January 16, 2009 sanctioned the scheme of merging both the companies.
Earlier, the company had received approval from the Karnataka and Bombay High Courts for the scheme of amalgamation of Shaw Wallace and Company and Primo distributors with the company vide their orders dated May 29, 2008 and July 18, 2008, respectively.
"With this, the company have received all the necessary court approvals", the filing added.
The focal business areas of the group encompass alcoholic beverages, life sciences, engineering, agriculture, chemicals, information technology, aviation and leisure.
ANI
