NEW DELHI, January 15: Whirlpool of India (WoI) has finalised the merger of Whirlpool Financial India Pvt Ltd (WFIL) with itself. The merger was approved here at a meeting of the board of directors.The move follows last week's announcement Whirlpool was revamping its sales and service divisions to bring it under one operational head. The valuation for the purpose of determining the swap ratio has been entrusted jointly to chartered accountancy firms, the New Delhi-based SR Batliboi and Co -- auditor of both companies -- and Mumbai-based NM Raiji and Co.
Whirlpool Financial has an equity share capital of Rs 143 crore. According to a Whirlpool of India statement here, ``the merger will significantly strengthen WoI's balance sheet''. Whirlpool Financial was established in early 1996 to provide factoring and credit-management service to WOI.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
