BPL to transfer healthcare biz to BPL Medical Tech

BPL Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 06, 2013, has approved transfer the Healthcare Business of the Company as a going concern to BPL Medical Technologies Private Limited (BPL Medical) for a consideration of equity shares of BPL Medical worth INR 21.05 crores (subject to the approval of the members, for which the Board has authorized conducting a postal ballot). The consideration shall be settled by way of allotment of fully paid up equity shares of that Company on a consideration other than cash basis. The Board has further authorized entering in to appropriate agreements with the parties concerned.Source : BSE

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