Jindal Vijaynagar may merge three group firms

The board of directors of Jindal Vijaynagar Steel (JVSL) will meet on May 9, 2005, to consider proposals to merge Euro Coke & Energy (Euro Coke), Euro Ikon Iron & Steel (Euro Ikon) and JSW Power (JPL) with the company based on the recommendations of RSM & Company and ICICI Securities.

According to a release issued by JVSL to the BSE today, the board will also discuss the valuation report and the recommendations made by Deloitte Haskins & Sells and ICICI Securities - valuers  appointed to evaluate the business of the companies.

"The share exchange ratio based on the valuation report will also be considered at the board meeting," the release added.