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Essar Board approves merger with India Shipping
New Delhi, Feb 17 (UNI) Essar Shipping Ltd said its board has approved its merger with Mauritius-based India Shipping.
''The board has approved issuing 32 equity shares of Essar Shipping for every 100 shares held in India Shipping, which has a face value of one dollar each,'' a company statement said.
India Shipping is the holding firm of Essar Oilfield Services Ltd.
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Story first published: Sunday, February 17, 2008, 14:33 [IST]
