Financial Crisis

Jain Irrigation Ltd. To Merge With Rivulis To Overcome Debt

Jain Irrigation Ltd. To Merge With Rivulis To Overcome Debt

Jain Irrigation System Ltd., on Tuesday, said that its global irrigation business would be merged with Temasek-owned Rivulis in a cash-and-stock deal. The company took this move to reduce its debt by 45%, or Rs 2,500 cr.  Jain Irrigation’s global business has been valued at Rs 4,200 cr. of which Rs. 2,7oo will be used…