BHSIL

Bajaj Hindustan to Unite with BHL

Bajaj Hindustan to Unite with BHL

Today, Bajaj Hindustan declared that its board and Bajaj Hindustan Sugar & Industries` board (BHSIL) collectively supported the union of BHSIL with BHL, dependent on all required consents.

The boards of both the firms have suggested a swap ratio of 1 share of BHL for every five shares of BHSIL. The selected date of fusion of BHL with BHSIL is Apr. 1, 2010.

In opposition to the stake of BHL in BHSIL, matching numbers of BHL shares will be detained in a Trust, for the BHL, as Treasury Stock.