Renata to merge with its 2 subsidiaries

The board of directors of Renata Limited, listed on the stock exchange, has decided to merge with the two subsidiaries — Renata Agro Industries and Purnava Limited.

The company said this through the Dhaka Stock Exchange (DSE) on Sunday.

However, the merger will take place once Renata receives approval from the High Court Division of the Supreme Court and other regulatory bodies.

Renata’s board of directors has approved the decision to merge the two companies with all their assets and liabilities in accordance with the provisions of Sections 228 and 229 of the Companies Act, 1994.