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Unitech to spin off infra, telecom operations
Unitech plans to merge arms Aditya Prop and Unitech Holdings with company, reports CNBC-TV18. The realty major plans to demerge its infrastructure and telecom operations into a separate company.
Unitech plans to merge arms Aditya Prop and Unitech Holdings with company, reports CNBC-TV18's Nayantara Rai. The realty major plans to demerge its infrastructure and telecom operations into a separate company.
CNBC-TV18 first reported on the Unitech demerger on March 18. The company has okayed a 1:1 swap ratio for the demerged operations. CNBC-TV18 had reported on the company's 1:1 swap ratio on April 19.
Unitech has formed a panel to consider potential acquisitions. Unitech Infra will cease to be a wholly-owned subsidiary of Unitech. The latter will hold 35% in Unitech Infra post the demerger.
Unitech Infra to have telecom, SEZ, IT parks, hotels, construction and infrastructure business, and amusement parks.
