RIL-RPL merge, swap ratio at 1:16

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Posted: Mar 02, 2009 at 1247 hrs IST

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Mumbai The Board of Directors of Reliance Industries and its refinery subsidiary RPL on Monday approved the merger of the two firms, creating one of the world's largest petrochemical entity and offered the shareholders of RPL one RIL share for every 16 shares held by them.

Both the companies in two separate filings said that the shareholders of RPL would receive one equity share of RIL for every 16 shares held.

The merger would create one of the world's top 50 companies on profitable basis and would make RIL one of the largest refiners of the world.

The appointed date of the merger is April 1, 2008, and the "scheme shall be subject to approvals of shareholders and creditors and sanctions" of the Bombay High Court.

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Comments -

Behind the scene by vishal on 02 Mar 2009

That is the best way to manipulate even in these difficult times ...

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great strategy - pulling wool over the eyes of public by Prabhu on 02 Mar 2009

This is repeat of previous RIL and RPL merger where the then RPL was merged in to RIL. Now again another RPL ( RPL-2) being merged with RIL. We need learn from Ambanis.

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If character is lost, everything is lost by Baatul on 02 Mar 2009

A fair move after I heard the take of the E

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RIL-RPL merge, swap ratio at 1:16

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