Cigarettes to hotel major ITC Ltd today said that Russell Credit, its wholly-owned subsidy, has acquired the entire equity share capital of Rs. 4.89 crore of Wills Corporation Ltd (Wills).
Post the acquisition of the equity share capital by Russell Credit, Wills will cease to be a direct subsidiary of ITC from September 7.
“Russell Credit Ltd, a wholly-owned subsidiary of the company (ITC), has acquired the entire equity share capital of Rs. 4.89 crore of Wills Corporation Ltd, another wholly owned subsidiary of the company,” ITC said in a notification to the bourses.
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