At meeting held on 11 April 2017
Gammon India announced that the Board of Directors of the Company at its meeting held on 11 April 2017 has considered and approved certain restructuring proposals -To sell Gammon House for consideration of Rs 10 lakh to Gammon Retail Infrastructure, a wholly owned subsidiary of the Company.
To sell Civil EPC Business of the Company for consideration of Rs 10 lakh to Gammon Transmission, a wholly owned subsidiary of the Company.
To sell upto 49% of its stake in subsidiary - Gammon Power to Gammon Retail Infrastructure, a wholly owned subsidiary of the Company for consideration of Rs 5 lakh.
To sell upto 90% of its stake in its material subsidiary - Metropolitian Infrahousing to its wholly owned subsidiary - Franco Tosi Hydro for a consideration of Rs 20 lakh.
To sell upto 90% stake in each of its subsidiaries viz (i) Gammon Transmission, (ii) Franco Tosi Hydro and (iii) Gammon Retail Infrastructure in favour of strategic investors.
To sell off the Company's shareholding in indirect subsidiary - Preeti Townships in favour of strategic investors at fair value.
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