The Hindu Business Line : Ambica to hive off hotel wing

HYDERABAD: The board of directors of Ambica Agarbathies & Aroma Industries Ltd has decided to hive off the company's hotel division, comprising units at Chennai and Visakhapatnam, and all other hotel-related businesses into a separate entity. In a communiqué to stock exchanges, the company said the decision would, however, be subject to approvals from shareholders, financial institutions, creditors and other authorities.

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