Special Situations, Content Strategist, Smartkarma

Crispin Francis

Special Situations, Content Strategist

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Event-Driven

On 11 August 2016, Grasim Industries announced that the Board of Directors of Grasim, Aditya Birla Nuvo and Aditya Birla Financial Services had approved the merger of ABNL into Grasim and the subsequent demerger and listing of ABFSL via a composite scheme of arrangement.  This is a two step process involving the merging of two large holding companies followed by a spin-off. In this insight, we take a look at the combined entity and identify potential arbitrage opportunities arising from the event.

On 11 August 2016, Grasim Industries announced that the Board of Directors of Grasim, Aditya Birla Nuvo and Aditya Birla Financial Services had approved the merger of ABNL into Grasim and the subsequent demerger and listing of ABFSL via a composite scheme of arrangement.  This is a two step process involving the merging of two large holding companies followed by a spin-off. In this insight, we take a look at the combined entity and identify potential arbitrage opportunities arising from the event.

Aditya Nuvo / Grasim - A Merger of Holdcos