Gitanjali Gems consolidates US’ entities
DSIJ Intelligence / 11 Aug 2017
Gitanjali Group has flagged off a consolidation exercise of its US’ business by way of merger of its subsidiaries based there.
Gitanjali Group has flagged off a consolidation exercise of its US’ business by way of merger of its subsidiaries based there. There is a merger of Abbey USA LLC and Tri-Star Worldwide LLC into Gitanjali USA, Inc. and the name of the surviving entity is Tri-Star Worldwide Inc.
There is a merger of Diamlink Jewellery Inc. and Jewellery Marketing Company LLC into Diamlink Inc. and the name of the surviving entity is Jewellery Marketing Company. The consolidation exercise is undertaken with a view to reduce cost and improve the efficiency of operations.
Meanwhile, the stock marginally slipped 0.80% at Rs 55.95 per share on BSE. The stock attracted a total traded quantity of 0.33 lakh shares.
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