ITC arm Russell Credit acquires Wills Corporation

FMCG major ITC has said its subsidiary Russell Credit has acquired Wills Corporation, another subsidiary of the company.

"Russell Credit Ltd, a wholly owned subsidiary of ITC, has acquired the entire equity share capital of Rs 4.89 crore of Wills Corporation Ltd (Wills), another wholly owned subsidiary of the company," ITC said in a filing to BSE.

Consequently, Wills has ceased to be a direct subsidiary of ITC with effect from September 7, 2015, it added.

Shares of ITC were trading at Rs 314.70 in afternoon trade today on BSE, up 0.54 per cent from its previous close.