AAJ TV : Pakistan Ki Awaz

Aaj TV Online - Pakistan Ki Awaz


		PM approves revised relief package for NWFP Eight suspected militants arrested in Lahore Maulana Abdul Ghafoor laid to rest 18 militants killed in Orakzai Agency Mirwaiz welcomes Saudi mediation to improve Pak-India ties

De-merger of Engro approved

RECORDER REPORT

Wednesday, 29 Apr, 2009 4:15 am

KARACHI : The board of directors of Engro Chemical Pakistan Limited, in its meeting held on Tuesday, agreed in principle to carry out a demerger of Engro, in terms of which its fertiliser business is proposed to be bifurcated from Engro and transferred/merged into a wholly owned subsidiary (to be incorporated).

In an information sent to Karachi Stock Exchange (KSE), the company will be seeking the requisite consents/approvals and shall then file a petition in the High Court of Sindh at Karachi to implement the de-merger.

Essentially, the fertiliser assets of Engro will be substituted by shares of its new wholly owned subsidiary. Engro will then function as a pure holding company and oversee the business of its new fertiliser subsidiary as well as the business of its other existing subsidiaries/affiliate. This will provide a number of organisational and other benefits to the company, it added.

Copyright Business Recorder, 2009

Print Version

Share on Facebook

Send This Story

Oil prices rises above 82 dollars a barrel

Dollar firms in Asia ahead of US retail sales

1 2


	SECP affairs: Prime Minister must order an inquiry
	According to many, this newspaper, in its Monday's issue, has downplayed a news item where..

	Peace talks
	While speaking in the Indian parliament, Dr Manmohan Singh defended keeping in touch with ..

	Baloch grievances
	Two FC men were killed and three injured in a roadside bomb explosion in Balochistan on Fr..


	Legacy of March 9, 2007
	March 9, 2007 was, undoubtedly, a tragic day in our history - the Chief Justice of Pakista..

	SPOTLIGHT: Despite shortcomings media are doing a great job of exposures: 18th amendment: many a slip between the cup and the lip
	The Parliamentary Comm-ittee for Constitutional Reforms (PCCR) is about to deliver the muc..

	South Korea's nuclear dreams hinge on new deal with
	South Korea, which has spent decades developing nuclear power to make up for its lack of o..

BRindex30		8770.07
KSE-30		10448.18
KSE-100		10025.99
KSE All Shr		7068.86
LSE-25		3189.12
ISE-10		2479.09

Currency	Buying	Selling
Euro	114.50	115.90
USD	84.35	84.65
Pound	126.70	128.40
YEN	0.9250	0.9350
AUSD	76.60	77.70

Business News | Stock News | Aaj TV | Aaj TV Urdu