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Date Time:03-09-2010 06:29
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RNRL and RPower Share Swap Ratio - 1:4?
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Strength in Unity. RNRL Merged R-Power and RNRL good for ADAG. Share Swap Ratio is expected to be 1 R-Power : 4 RNRL. That is for every 4 share of RNRL shareholder are expected to get one share of Reliance Power.
ADAG to merge RNRL and Reliance Power
RNRL Merger with R-Power, RNRL Merger with Reliance Power, Reliance Natural Resources Merger with Reliance Power, Anil Ambani RNRL Merger with Reliance Power, Share Swap Ratio RNRL Merger with Reliance Power. Reliance Merger News.
RNRL to be merged with Reliance Power
The Anil Dhirubhai Ambani Group (ADAG) has decided to merge Reliance Natural Resources Ltd (RNRL), its gas trading subsidiary, with Reliance Power.
The boards of both the companies will meet on Sunday to consider the proposal. Though R-Power and RNRL spokespersons declined to share any details, the two companies informed of the development to the stock exchanges after close of trading.
Last week, Mukesh Ambani-promoted Reliance Industries (RIL) and RNRL had signed a revised gas sale master agreement (GSMA) pursuant to the Supreme Court’s May 7 judgment, where it had turned down RNRL’s plea for cheap gas from RIL based on a family agreement.
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