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Provider: Thomson Reuters Stock Report
Provider: Reuters Investment Profile
Provider: Wright Reports
Provider: Axis Capital Limited

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Westlife Development Ltd Proposes Merger To Make Hardcastle Restaurants As Direct Subsidiary

Friday, 7 Dec 2012 01:56am EST 

Westlife Development Ltd announced that a scheme of arrangement is proposed for consolidation of some of its group companies. As a result of the proposed consolidation, Hardcastle Restaurants Private Limited (HRPL), a Master Franchisee for west & south India operations of McDonald’s Restaurants, will become a direct subsidiary of the Company (WDL). Through this move, the B.L. Jatia group proposes to consolidate HRPL (through its majority shareholder, Triple A Foods), and Westpoint Leisureparks Pvt. Ltd (majority shareholder of Triple A Foods) under Westlife Development Limited. The B.L. Jatia family holds majority ownership directly and indirectly in all these companies. Financial terms of the transaction were not disclosed. 

Company Quote

14.95 +4.60%
5:18am EDT