Ceat shareholders Give OK to Demerger

Shareholder’s in India’s Ceat Ltd have approved the demerger of the company’s investment arm CHI Investment into a standalone entity. The demerger had previously been approved by the Bombay High Court.

Ceat said the demerger would enable it to optimise performance and enhance value for the shareholders by concentrating on its core business. Post demerger, the company’s shareholder would get 25 shares in CHI and 75 shares in Ceat for every 100 shares held on the date of recording.