Tata Power to transfer 100% stake held in Trust Energy Resources to Tata Power International

The above transaction of $285.64 million is expected to be concluded in the next two to three weeks.

Jul 22, 2021 04:07 IST India Infoline News Service

Tata Power
Tata Power Company Limited has signed a Share Purchase Agreement (SPA) on July 22, 2021, with Tata Power International Pte. Ltd. (TPIPL), a wholly-owned subsidiary of the company, for the sale of 100% equity shares held in Trust Energy Resources Pte Ltd (TERPL), another wholly-owned subsidiary of the company for a consideration of $285.64 million.

“The above transaction is expected to be concluded in the next two to three weeks, subject to necessary regulatory approvals if any. TERPL will continue to remain a fully owned subsidiary of TPIPL and will be merged into TPIPL in the due course, subject to the regulatory approvals,” the company said in a regulatory filing on Thursday.

Tata Power Company Ltd ended at Rs123.65 per piece up by Rs1.9 or 1.56% from its previous closing of Rs121.75 per piece on the BSE.

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