D-link approves demerger with Smartlink

New Delhi, Oct 6: D-Link India Ltd, a communications equipment maker, on Monday, Oct 6 said its board has approved demerging the marketing business to Smartlink Network Systems Ltd. ''The Board of Directors has approved the transfer by way of a demerger of the business of marketing and selling D-Link branded active networking products, associated assets and liabilities, and the trade mark D-Link to the Smartlink,'' the company said in a statement.

The restructuring will result in two listed entities-- D-link (India) Ltd carrying out the business of sales and marketing of D-Link branded active networking products, and Smartlink Network carrying out the remaining business including sales and marketing of passive networking products, R&D, manufacturing and services and support.

Each shareholder of D-Link will receive one share of Smartlink for each share held, the statement said.

The proposals are subject to the obtaining of necessary approvals from shareholders, creditors and regulatory authorities, including stock exchanges, Foreign Investment Promotion Board, Reserve Bank of India and the Bombay High Court, Goa Bench.

UNI