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Showing posts with label R-power RNRL news. Show all posts
Showing posts with label R-power RNRL news. Show all posts

Monday, July 5, 2010

Reliance Power | RNRL merger at 11 billion all stock deal

The struggling company Reliance Natural Resources Ltd (RNRL), is all set to merge with sister firm Reliance Power (R-Power) in a Rs 50,000-crore, all-stock deal. This would help ADAG in concentrating on its firms which has some meaning and are viable.

The proposed merger is subject to approvals of the shareholders of R-Power and RNRL, the stock exchanges, the High Court here, and all other requisite permissions, sanctions and approvals.

R-Power will retain the assets and people of RNRL, a company with a turnover of Rs 298 crore, and continue to do business in the areas pursued by it, people close to the development said. After the merger, the company’s net worth will exceed Rs 16,000 crore and it will have 600,000 shareholders.

The merger will take the market capitalisation (m-cap) of R-Power to a little over Rs 52,000 crore. Its m-cap was Rs 41,979 crore at the close of trading on Friday and that of RNRL was Rs 10,394 crore. Hence R-power would become a company with it's own transportation of raw materials required for generation of proposed 10000 MW of power.

 

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