DLF eyes better cash flow by biz integration
Realty major DLF today said its board has approved integration of DLF Assets with DLF Cyber City Developers, a move that will enhance its cash flow through rental income. - DLF Pramerica Life eyes 3-fold rise in business - F&O OUTLOOK: Indecisiveness spreads to stocks futures - Indecisiveness spreads to stocks futures - DLF plans integration of DAL - DLF mulls integrating Caraf Builders with DLF Cyber City - Markets open strong on positive global cues The DLF board yesterday gave an in-principle approval to integrate, including by way of merger/amalgamation of DLF Cyber City Developers with Caraf Builders & Constructions (Caraf), the holding company of DLF Assets (DAL), set up by group promoter KP Singh, the company said in a filing to the Bombay Stock Exchange (BSE). "The special committee of independent directors has given in-principle approval for the integration of certain rental businesses of the company and certain similar businesses held in promoter entities with a view to eliminate conflicts of interest, achieve management integration and certain other strategic objectives," the filing added. The valuation ratio accepts the relative valuation of Cyber City and Caraf in the ratio of 60:40. Consequently, the company would have an economic interest in the integrated entity of 60 per cent with the residual 40 per cent being held by the Caraf shareholders, it added. The DLF promoters had invested in DAL through Caraf and DAL was set up to buy commercial properties of DLF. Consolidation would help the group"s rental assets under DLF to further enhance the stable rental income and cash flows of the company. The integration will be subject to necessary regulatory approvals. Shares of DLF today closed at Rs 379.40 on the BSE, down 0.42 per cent from its previous close.Easy Payday UK commented:
Integrating the business will surely gain them more and they will be able to have a good business in the coming time.
20.07.2011
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Hope they will be getting the benefits with this integration.
12.09.2011
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10.10.2011
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25.10.2011
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19.12.2011
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16.02.2012
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17.02.2012
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20.02.2012
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20.03.2012
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24.03.2012
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26.03.2012
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26.03.2012
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26.03.2012