14 September 2009 17:14 [Source: ICIS news]
NEW DELHI (ICIS news)--Reliance Industries Ltd (RIL) has absorbed Reliance Petroleum Ltd (RPL), saying the business has been “dissolved without winding-up”, according to an RIL disclosure to the stock exchanges on Monday.
The merger became effective on 11 September, RIL said
RPL operated an export-focused refinery and polypropylene (PP) complex at a special economic zone at ?xml:namespace>
Post-merger, RIL would benefit from “greater flexibility in operations planning, process optimisation and enhanced flexibility in product slate”, the company had stated earlier.
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