KOLKATA: RP Sanjiv Goenka Group on Thursday announced the restructuring of its flagship company CESC Ltd by splitting it into four companies.
Group chairman Sanjiv Goenka said power utility CESC is being split into four companies by way of ‘mirror image’ demerger for value unlocking and focused management on each of the verticals.
Elaborating further, he said the group’s power distribution business will be under CESC Ltd, the power generation business will be housed in CESC Generation and the retail business Spencer’s will be a separate company. All non-power and retail businesses including BPO company Firstsource, sports, FMCG and real estate will be under CESC Ventures. There will, however, be no holding company.
Goenka said, …
Read the full article at: http://economictimes.indiatimes.com/industry/energy/power/rp-sanjiv-goenka-group-announces-restructuring-of-cesc-ltd/articleshow/58739417.cms