Divestment by India's largest private sector company, following settlement between the two Ambani brothers has resulted in Anil Ambani gaining control of utility Reliance Energy Ltd., financial services firm Reliance Capital Ltd., and the unlisted telecom businesses and Mukesh Ambani gaining the flagship business, Reliance Industries, which includes oil and gas exploration, refining and petrochemicals, as well as Indian Petrochemicals Corp.
Reliance Industries Ltd. has set Jan. 25 as the record date for shareholders to be eligible for shares in the telecommunications, financial and utility interests it plans to spin off. Shareholders in Reliance Industries will receive one share each in four new companies to be created for every one share held. The new companies are Reliance Energy Ventures Ltd., Global Fuel Management Services Ltd., Reliance Capital Ventures Ltd. and Reliance Communication Ventures Ltd.
23-Dec-05 
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