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Gitanjali Gems intimates of consolidation of Group's US business

Capital Market 

For reducing cost and improve efficiency of operations

announced that Gitanjali Group has undertaken consolidation exercise of Group's US business by way of merger of its US based subsidiaries / step down subsidiaries in the following manner:

1. Merger of Abbey USA LLC and Tri- Star Worldwide LLC into Gitanjali USA, Inc. and later the name of the surviving entity has been changed to Tri- Star Worldwide Inc.

2. Merger of Diamlink Jewelery Inc. and Jewelery Marketing Company LLC into Diamlink Inc. and later the name of surviving entity has been changed to Jewelery Marketing Company, Inc.

This consolidation exercise is undertaken with a view to reduce cost and improve efficiency of operations.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, August 10 2017. 16:50 IST
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