BK, Kumar offer to buy out other Birlas

<div class="section0"><div class="Normal"><span style="" font-size:="">MUMBAI: It''s a strategic move, which sends out a telling message. Basant Kumar Birla and grandson Kumar Mangalam Birla are proposing to buy out all other family members from Pilani Investments- the holding company of the Birla clan.</span><br /><br /><span style="" font-size:="">While it would simplify the extremely complex mesh of Birla cross-holdings, the move also assumes significance because Pilani Investments has enormous sentimental value for the Birlas.</span><br /><br /><span style="" font-size:="">Sources familiar with the development said Sudarshan Kumar (SK) Birla, Ganga Prasad (GP) Birla, Madhav Prasad (MP) Birla and Chandra Kant (CK) Birla have reached an understanding to exit Pilani.They will be selling their stakes to clan patriarch Basant Kumar Birla, who controls the Rs 2,500-crore Century Textiles, and Kumar Mangalam Birla, the youngest-and biggest-Birla who controls the diversified textiles-to-metals Aditya Vikram Birla group.</span></div> </div>