The board of directors of India Cements has approved the demerger of the company’s Indian Premier League (IPL) franchise Chennai Super Kings (CSK) into a wholly-owned subsidiary, a move that will allow the company to realise full value of the IPL franchise as a separate entity. The board has approved the proposal to demerge the IPL franchise by transferring its net assets at cost. The effective date of transfer has been fixed as 1 January 2015. The proposal is subject to appropriate approvals, India Cements said in an announcement. Currently, CSK operates as a division of India Cements. The IPL franchise has helped India Cements to expand outside South India by bringing it more visibility and brand recall.
Read more at: http://www.televisionpost.com/news/india-cements-board-approves-demerger-of-chennai-super-kings/ | TelevisionPost.com
Read more at: http://www.televisionpost.com/news/india-cements-board-approves-demerger-of-chennai-super-kings/ | TelevisionPost.com
