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Godfrey Phillips board approves advisor appt for biz rejig

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Press Trust of India New Delhi
Tobacco major Godfrey Phillips India today said its board has approved the move to seek the service of a merchant banker for any potential restructuring of its various businesses.

"The Board...Authorised the company to engage the services of a merchant banker and/or other advisors...For any potential restructuring or reorganising its various businesses in order to explore the opportunities for value enhancement for its shareholders," the company said in a BSE filing today.

"Any proposal brought by the merchant banker and/or other advisors, if accepted by the Board, shall be subject to all applicable regulatory approvals including shareholders' approval," it said.
 

A flagship company of the K K Modi Group, Godfrey Phillips India had reported a 53.03 per cent rise in standalone net profit at Rs 49.72 crore for the second quarter which ended on September 30, 2015.

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First Published: Jan 31 2016 | 6:28 PM IST

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