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Yesterday, the board of Duncans Industries Ltd. has given its nod for inducting Jaypee Associates as a strategic partner for its closed fertiliser unit.
Duncans Industries is the flagship company of the Duncan Goenka group.
Mr. G P Goenka, Chairman of Goenka group said that Jaypee would acquire 50 % stake in the company, while the rest would be held by Duncans.
Mr. Goenka said the Joint Venture (JV) would be formed for the fertiliser unit in Kanpur.
Moreover, Jaypee Associates would also take the liabilities of the unit which totaled Rs. 550 crore.
Besides, the JV would also repay the fixed depositors of Duncans...
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http://www.dsij.in/news/checkShow.asp?nid=287553
Source: Dalal Street Investment Journal
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