EIL, BHVP meet to discuss merger

Visakhapatnam, June 2 (UNI) A two-member team of the Engineers Indian Limited (EIL), comprising directors D S Chakarvarty P K Sahay visited Bharat Heavy Plates and Vessels Limited (BHVP) today for a preliminnary study of financial and other aspects of the proposed merger with EIL.

According to company sources, the team held detailed discussions with BHVP managing director Om Prakash and other officials about the modalities of the merger package. A second round of the negotiations would be held in the next weeek, the sources said.

Senior officials of the SBI Capital Markets, which was appointed as the consulatant, accompanied the EIL delegation.

The sources refused to divulge details of meeting but observed that the desults would be announced soon.

The merger proposal was made during a BHPV team's recent visit to New Delhi and it also received positive response from Prime Minister Manmohan Singh.

UNI BSR J 1702