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This is an archive article published on September 25, 2004

IOC to merge with IBP before December 2004

IOC is all set to merge with IBP before December 2004. This was conveyed by IOC Chairman, M.S. Ramachandran here on Friday. ‘‘We a...

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IOC is all set to merge with IBP before December 2004. This was conveyed by IOC Chairman, M.S. Ramachandran here on Friday. ‘‘We are waiting for the swap ratio from our merchant bankers, J.M. Morgan Stanley and HSBC. The merger will be 100 per cent completed before this fiscal-end,’’ he said after the company’s 45th AGM of shareholders was held here today.

Ramachandran said the company would retain the IBP brand name as it enjoys a lot of brand equity in certain part of country and it would operating as a division within the Fortune 500 company.

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