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Article: Corus gets UK court nod for share capital reduction.
- Article from:
- PTI - The Press Trust of India Ltd.
- Article date:
- March 30, 2007
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Corus gets UK court nod for share capital reduction
London, Mar 30 (PTI) Indian conglomerate Tata Group today moved closer to completing its Corus acquisition with a UK court approving the reduction in the Anglo-Dutch firm's equity capital - a move that helps in starting a business afresh.
The High Court of Justice in England and Wales granted an order at a hearing held earlier today confirming the reduction of the company's share capital, Corus said in a statement today.
Capital reduction proposals in case of merger and acquisitions are gaining ground and this reflects a firm's intention to start the business on a fresh and clean slate.