Unitech puts on hold demerger of infrastructure business

13 Dec 2011

Realty major Unitech has put on hold its plans to demerge the infrastructure vertical (Unitech Infra Ltd) indefinitely on account of sluggishness in economy. The company also decided to withdraw the amalgamation of two wholly owned subsidiaries -- Aditya Properties Pvt Ltd and Unitech Holdings Ltd -- with itself. Keeping in view the prevailing macroeconomic scenario, the company has decided to put its plans to expand the infrastructure business on hold and focus on its core business of development of residential and commercial real estate.

In April 2010, Unitech had announced demerger of its infrastructure operations, including the telecom business, into a new entity to unlock the value of none-core businesses. It had even planned to eventually list the new demerged entity -- Unitech Infra -- on stock exchanges.

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