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Westlife Development plans merger to make Hardcastle Restaurants a direct subsidiary

07 Dec 2012 Evaluate

Westlife Development (WDL) has proposed a scheme of arrangement for consolidation of some of its group companies.  As a result of the proposed consolidation, Hardcastle Restaurants (HRPL), a Master Franchisee for west & south India operations of McDonald’s Restaurants, will become a direct subsidiary of Westlife Development.

Through this move, the B L Jatia Group proposes to consolidate HRPL (through its majority shareholder, Triple ‘A’ Foods), and Westpoint Leisureparks (majority shareholder of Triple A Foods) under Westlife Development. The B L Jatia family holds majority ownership directly and indirectly in all these companies. 

Westlife Development (Dhanprayog Investments) Company was incorporated under the Companies Act, 1956 under Certificate of Registration No. 28593 dated October 30, 1982. Earlier, the company was engaged in investment and lending activities and was registered as a Non-Banking Financial Institution with the Reserve Bank of India.

Westlife Development Share Price

502.05 7.65 (1.55%)
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