EPC company Salasar Techno Engineering Ltd (STEL) on Saturday said its board has a proposal to merge Hill View Infrabuild Ltd with itself. A decision in this regard was taken at a board meeting of the company on Thursday, STEL said in a statement.
On the rationale behind the merger, the proposed amalgamation will simplify and streamline the shareholding structure of the Salasar Techno Engineering, it said.
The proposed scheme of arrangement will also have beneficial impact on the financial books of the two entities, their shareholders, employees, and other stakeholders, as per the statement.
STEL is a steel structure manufacturer and EPC infrastructure company, providing services across telecom, energy, and railways.
Source: Economic Times