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Grasim shareholders approve Aditya Birla Nuvo merger

Grasim shareholders approve Aditya Birla Nuvo merger

Friday, April 7, 2017, 9:51 PM

Shareholders of billionaire Kumar Mangalam Birla’s Grasim Industries Ltd. approved plans for the Indian tycoon to pursue a controversial merger that would tighten his grip of a business empire with more than $40 billion in annual revenue. More than 93% of Grasim minority shareholder votes cast were in favour of the plan to merge with affiliate Aditya Birla Nuvo Ltd, according to a statement.
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