BF Utilities Ltd. (BSE:532430) responded to the news flashed on CNBC TV 18 captioned "Nandi Infra Corridor - Board considering reverse merger of NICE with BF Utility, Merger considered for better shareholder value of BF Utilities" on April 17, 2015. At a general meeting, a suggestion was made by the shareholders for corporate restructuring of BF Utilities and Nandi Infrastructure Corridor Enterprises Ltd. BF Utilities then initiated a process and appointed advisors to study the restructuring. The Board of Directors of BF Utilities will consider the next steps after receiving feedback from advisors.
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