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Wednesday, Aug 02, 2006

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Herbertsons gets HC nod for merger

Our Bureau

Bangalore, Aug. 1

Herbertsons Ltd has informed the Bombay Stock Exchange that the Bombay High Court had on July 31, 2006, sanctioned the composite scheme of arrangement in respect of the amalgamation of the company with McDowel & Company Ltd. With this, the scheme has now been sanctioned in the case of McDowell & Company Ltd, the Company, Phipson Distillery Ltd, United Spirits Ltd, United Distillers India Ltd, McDowell International Brands India Ltd and McDowell India Spirits Ltd.Approval in case of remaining companies viz., Shaw Wallace Distilleries Ltd, Baramati Grape Industries Ltd and Triumph Distillers & Vintners Pvt Ltd, of the Bombay High Court is expected shortly, after which the Scheme will be effective.

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