21. The demerger was effective on 1 August 2011. 22. Philip-S�rensen led the demerger of Group 4 from Securitas AB in 1981. 23. The demerger was effective on 31 March 2007. 24. There are important synergies between hotels and catering which would be lost through a demerger . 25. With the implications for demerger proposals, the risks are now pretty much evenly balanced, 26. A straightforward demerger would create inefficiencies there. 27. Despite the demerger referendums held in 2004, the controversy is still raging in Quebec. 28. Besides Montreal, those on this list voted to demerge in the 2004 demerger referendums. 29. The company was formed as International Power in 2000 by the demerger of National Power. 30. The university regained its autonomous status in 1988 following a general demerger of such institutions.
