| 11. | Smith said the demerger of Waterstone's will take place next spring.
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| 12. | The gradual recovery will likely to tag along closely with its demerger plan.
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| 13. | Its planned demerger is a watershed in this restructuring.
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| 14. | The demerger process also resulted in the restructuring of the existing agglomeration body.
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| 15. | Immediately following the demerger, Williams Holdings launched a takeover bid for Racal.
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| 16. | Housefather then led the demerger movement in his borough.
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| 17. | The demerger took effect on January 1, 2006.
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| 18. | A demerger would have been an expensive distraction,
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| 19. | The demerger took effect on 30 August 2006.
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| 20. | The Burberry demerger was completed in December 2005.
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