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Aditya Birla Nuvo shareholders sign off Grasim merger plan

Aditya Birla Nuvo shareholders sign off Grasim merger plan

Tuesday, April 11, 2017, 1:13 PM

Shareholders of Aditya Birla Nuvo Ltd, controlled by billionaire Kumar Mangalam Birla, approved plans for a merger with Grasim Industries Ltd that would create a firm with $9 billion in combined revenue. About 83% of ABNL minority shareholder votes cast were in favour of a proposal to merge with affiliate Grasim, according to a statement from ABNL on Monday.
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