IDFC and Shriram Group have decided to extend the 90-day confidentiality by one month to 8 Nov 2017, their exclusivity and standstill (CES) agreement, which provided for 90 days exclusivity period from 8 Jul 2017. The CES agreement provided for due diligence and discussions for evaluating potential merger of certain businesses and subsidiaries/affiliates of the Shriram Group with IDFC Group. The companies have informed the bourses that the CES agreement has been extended in view of the extensive due-diligence process involved and ongoing discussions.
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