BHL To Merge With Bajaj Hindusthan Sugar and Industries
Bajaj Hindusthan (BHL) and Bajaj Hindusthan Sugar and Industries (BHSIL), two sugar producers from India, have collectively consented to the merger of both the companies, which is conditional upon all required approvals.
According to the terms of the proposed merger, scheduled to take place on 1.4.2010, BHSIL shareholders will receive one share of BHL for every five BHSIL shares held by them.
The merger will enhance the value for shareholders of both BHL and BHSIL. There will be further gains and benefits from reduced operating costs arising from the synergies of a combined operation.
The proposed merger will contribute to the substantial benefits for BHL in terms of scale, integration, enhanced financial strength and flexibility, thereby enhancing shareholder value.
According to Kushagra Bajaj, joint managing director of BHL and chairman of BHSIL, Post Merger BHL will have sugarcane crushing capacity of 1,36,000 TCD, Distillery capacity of 800 KL per day and surplus bagasse based co-generation thermal power capacity of 105 MW.
Upon merger the combined capacities of BHL and BHSIL along with their respective inherent operational strengths will strengthen BHL's position in India's sugar sector and will enable the company to further enhance overall shareholder value.
Mr Bajaj added: The amalgamation is a natural consequence and will result in the creation of a single larger entity in place of two smaller entities carrying on similar business under the same management and control; thus, resulting in rationalization of operations, better profitability, enhanced production capacity and a stronger competitive position.
The proposed merger is subject to necessary approvals by shareholders, creditors, as may be required pursuant to Section 391 to 394 of the Companies Act, 1956 and also other regulatory and statutory approval including by the Hon'ble High Court of Judicature at Mumbai.
Related Insight
Suppliers Directory
Processed Foods Bakery & Cereals Confectionary Pasta & Noodles Savory Snacks Sweets & Desserts
Condiments & Ingredients Ingredients Oil & Fats Sauces & Spreads Soups
Chilled & Deli Food
Special Foods Baby Food Health Foods
Food Technology Process & Production IT & Software Packaging Sustainability
Marketing & Regulatory Regulatory & Food Safety Supply Chain Retail
Ingredients Intelligence
Until recently, the beverages market was divided simply between alcoholic and non-alcoholic beverages. As consumers’ tastes grew more sophisticated and demand surged for a variety of beverage options catering to lifestyle changes and health concerns, the beverages industry has responded with a dizzying array of options to choose from. This report focuses on the U.S. and world markets for beverages across several broad categories. For the purposes of this study, TriMark Publications has divided the global beverages markets into the following product segments include: 1) alcoholic beverages such as wines, beers and spirits; 2) non-alcoholic beverages such as bottled water and milk; 3) brewed beverages such as coffees and teas; 4) carbonated beverages such as sodas and soft drinks; 5) non-carbonated juice products both fresh and pre-packaged; and 6) energy drinks which are generally caffeinated beverages in both carbonated and non-carbonated forms. For each market segment, this study presents the latest information on size, growth rates, sales projections and factors influencing growth in the U.S. and internationally. Buy online from $449
Comments may be moderated for spam, obscenities or defamation.