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Sat, Aug 24, 2013 at 16:54

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Diversified conglomerate ITC’s board will consider demerger of the non-engineering business of subsidiary Wimco to be merged with itself.

"A meeting of the board of directors of the company will be held on August 28 to consider a proposal for demerger of the non-engineering business comprising safety matches business and agri ( forestry) business of Wimco into the company," ITC said in a filing to the BSE.

ITC along with Russell Credit, a wholly owned unit, holds 98.21 per cent of Wimco's share capital, it added.

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