Empee Sugars & Chemicals has received an approval to disinvest 100% of shareholding held in the subsidiary company, Empee Power Company (India). The board of directors at their meeting held on October 25, 2014 has approved for the same. The above is however subject to the approval of the shareholders of the company/ statutory approvals, if any.
The board has also decided to withdraw the Composite Scheme of Amalgamation of Empee Distilleries with the company, pending before the High Court, Andhra Pradesh.
Empee Sugars & Chemicals is an Empee Group company which has diversified its business into hotels, liquor, sugar, power, packaging, transport, construction and exports.
