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Eicher demerger move

NEW DELHI DEC. 9. Eicher Ltd. (EL) today decided to de-merge its auto and ancillary business with group company Eicher Motors (EML) as part of a restructuring exercise.

The board of directors of both EL and EML took a decision to this effect, a company statement said today.

Additional shares to be issued will be in the ratio of 2:5 — two equity shares of EML for every five equity shares of EL.

PTI

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