Ambani settlement in sight
By Our Corporate Bureau | 24 Mar 2005
The warring Ambani brothers may soon be at peace as a formula for the control over the enterprises of the Rs99,000-crore business empire is expected to be announced soon, perhaps, next week itself.
As a part of the division of enterprises, Reliance Infocomm is expected to be transferred to Anil Ambani. Reliance Infocomm and Reliance Energy had became the two major areas of dispute between Mukesh and Anil Ambani. He will also retain control of Reliance Energy Ltd and Reliance Capital Ltd, both companies he is publicly associated with.
Such a division, say analysts, would also reduce the monetary settlement to be Anil Ambani, for relinquishing all claims in the group flagship company, Reliance Industries Ltd and Indian Petrochemicals Corporation Ltd, which would continue to be controlled by elder brother Mukesh Ambani.
However, the Krishna-Godavari deepwater gas exploration blocks, would remain an integral part of RIL, it is learnt, while Reliance Life Sciences Pvt Ltd, may be carved out of RIL for Anil Ambani.
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