Renata, a listed company, will take over two subsidiary companies with their all assets and liabilities, said a disclosure.
The company's board of directors has taken the decision and approved draft scheme of amalgamation unanimously, according to a disclosure posted on the website of Dhaka Stock Exchange (DSE) on Sunday.
The subsidiary companies which will be taken over by Renata are Renata Agro Industries and Purnava.
"The amalgamation will be executed as per provisions of Section 228 and 229 of the Companies Act, 1994," the disclosure said.
The company's amalgamation will be executed subject to approval of the High Court Division and any other regulatory body as may be required.
Renata, presently an 'A' category company, was listed with the stock exchange in 1979.
The company's sponsor-directors hold 51.27 per cent shares, institutes 19.43 per cent, foreigners 22.88 per cent and general shareholders 6.42 per cent as on January 31, 2022.
The company's share price closed at Tk 1356.60 each on Sunday with a loss of 0.47 per cent or Tk 6.40 on the DSE.
