German industrial and automotive supplier Schaeffler Group has announced a merger of its Indian entities in a bid to simplify its holding structure. Schaeffler India Ltd (formerly Fag Bearings India Ltd), INA Bearings India Pvt Ltd and LuK India Pvt Ltd, have approved the draft scheme of amalgamation for the merger of INA India and LuK India into Schaeffler India As part of the merger scheme, Schaeffler India (SIL) will issue 10 equity shares to shareholders of INA India for every 65 equity shares...