Parrys Sugar Industries Ltd to merge with EID Parry (India)

Q.  Parrys Sugar Industries Ltd will merge with which company?
- Published on 12 May 16

a. EID Parry
b. EID Parry (India)
c. Parry (India)
d. None of the above

ANSWER: EID Parry (India)
 
Parrys Sugar Industries Ltd. will merge with EID Parry (India) Ltd. Parrys Sugar is a listed subsidiary of EID Parry.
  • The board of EID Parry had already given its nod for the scheme of amalgamation.
  • The merger, which will be subject to the approval of the shareholders and relevant regulatory authorities, will take retrospective effect from April 1, 2016, according to a company release.
  • Shareholders of Parrys Sugar will receive two equity shares of Re.1 each of E.I.D. Parry for every 13 equity shares of Rs.10 each they hold.

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