Allianz Securities accords in-principle approval for merger of Almondz Capital Markets

Allianz Securities Ltd has announced that the Board of Directors of the Company at its meeting held on February 13, 2007 has considered and accorded its "in - principle" consent to pursue the merger of M/s. Almondz Capital Markets Pvt Ltd with the Company, and has appointed the Valuers and Legal Advisors for the same. The merger will be subject to the receipt of approvals from the Stock Exchanges, other Regulatory Authorities, the respective Boards of the two Companies and, if required, by the respective shareholders of the two Companies.

Source : Equity Bulls

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