Retail major Pantaloon Retail (India) today said it will merge the consumer durable business of its subsidiary with itself.
The board has approved demerger of consumer durables and home improvement business from Home Solutions Retail (India), Pantaloon said in a filing to the Bombay Stock Exchange.
Following the demerger, the said units would be merged with Pantaloon Retail (India).
Further, the company would acquire the sports retail business from its wholly-owned subsidiary, Winner Sports.
The scheme of arrangement is subject to approval from the shareholders, the filing added.
Shares of Pantaloon Retail (India) were trading at Rs 395 on the BSE, up 1.46 per cent from previous close.
