Bombay Burmah Trading Corporation (BBTCL) has received an approval for merger of Electromags Automotive Products, a wholly owned subsidiary of the corporation with itself. The company has received an approval for merger at its board meeting held on May 27, 2011. Further, the merger will be with effect from April 01, 2011 subject to the approval of High Court and other authorities as may be required.
Recently, BBTCL had sold and transferred all of the 503 shares held by it, representing 50.3% shareholding of P.T. Indo Java Rubber Planting Company, a subsidiary of the corporation to a fellow shareholder. The transaction took place on March 17, 2011 for $15 million for sale of shares and estimating value of current assets at $0.7 million. As a result P.T. Indo Java Rubber Planting Company ceased to be a subsidiary of the corporation.
Bombay Burman Corporation is in the business of teak and has diversified its interests in Tea, Coffee, Dental Products and Formica Laminates. The company is also engaged in other businesses like laminate products, dental products, springs, ophthalmic products, weighing products, orthopaedic products and auto electrical components.
| Company Name | CMP |
|---|---|
| SamvardhanaMotherson | 131.95 |
| Tube Investments | 3048.15 |
| Bosch | 38138.45 |
| UNO Minda | 1178.05 |
| CIE Automotive India | 474.85 |
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