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…