|
|
Article: Bajaj Auto to be demerged, but not splitting: Rahul Bajaj.
- Article from:
- PTI - The Press Trust of India Ltd.
- Article date:
- May 17, 2007
CopyrightCOPYRIGHT 2007 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Bajaj Auto to be demerged, but not splitting: Rahul Bajaj
Mumbai, May 17 (PTI) Ending months of speculation over a possible split of the Bajaj Auto empire, the company's board today approved a scheme to demerge its non-auto business from the flagship company and create a holding company for the two.
Announcing the plans, Bajaj Auto Chairman Rahul Bajaj said the move to demerge the company was to unlock shareholder value and not to divide the group between his two sons -- Rajiv and Sanjiv.
"It is all nonsense (family feud)...The work is divided and the ownership between four brothers and two sons remains the same," he said.
As per the ...