LKP Merchant Financing to acquire shares of LKP Shares and Securities Ltd

LKP Merchant Financing Ltd has announced that the Board of Directors of the Company at its meeting held on January 31, 2007 has approved in principle to acquire the Equity Shares of LKP Shares and Securities Ltd in order to consolidate and merge the broking operations of LKP Securities Ltd (a Wholly Owned Subsidiary of the Company) and LKP Shares & Securities Ltd into a single entity subject to approval of the Stock Exchanges, Mumbai High Court and other concerned regulatory authorities. The Board has requested Mr. Mahendra V. Doshi for the said purpose to initiate the process required to complete the proposed merger.

Source : Equity Bulls

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