Melrose shareholders vote in favour of GKN spin-off plan

March 30 (Reuters) – Shareholders of Melrose Industries Plc (MRON.L) voted in favour of spinning off GKN automotive and powder metallurgy and hydrogen businesses, the British jet and auto parts supplier said on Thursday.

The company, which announced in September its plans to spin off the GKN automotive division and smaller powder metallurgy and hydrogen businesses from its aerospace arm, would be demerged into a new independent holding company called Dowlais Group, it added.

Reporting by Sinchita Mitra in Bengaluru; Editing by Subhranshu Sahu and Rashmi Aich

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