Hindustan Lever board approves merger of Modern Food with itself

Hindustan Lever Ltd has announced that the Board of Directors of Modern Food and Nutrition Industries Ltd (MFNIL) on September 12, 2006, has approved the proposal for merger of MFNIL (a 100% subsidiary of Modern Food Industries Ltd) with the Company, with effect from October 01, 2006.

Draft Schemes, setting out the terms and conditions with regard to the above were duly approved by the Board in the said meeting and steps are now being taken to obtain the approval of the shareholders and the Hon’ble High Court of Judicature at Bombay and at Delhi for the Scheme of Amalgamation of MFNIL with the Company.

Source : Equity Bulls

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