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GHCL: consultant hired to consider restructuring

Leading Indian soda ash producer GHCL Ltd. said on 21 August 2006 that it has appointed Edelweiss Capital Ltd. to evaluate various models for restructuring its core soda ash and home textiles business…

Leading Indian soda ash producer GHCL Ltd. said on 21 August 2006 that it has appointed Edelweiss Capital Ltd. to evaluate various models for restructuring its core soda ash and home textiles businesses, in view of its future growth plans. The restructuring would help enhance the valuations of the company and the final suggested structure would be approved by the board, shareholders or lenders of the company, GHCL told the Bombay Stock Exchange. The company has consolidated its position in the domestic and international markets by acquiring soda ash assets in Romania and home textile distribution and retail businesses in the US and the UK apart from organic growth in India. As a consequence, the company said it felt the need to evaluate the corporate and legal structure of its core businesses and to align it with its emerging business realities.

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