Tata Power to divest 100% stake in Trust Energy Resources to Tata Power International
Capital MarketTata Power has signed a share purchase agreement on 22 July 2021 with Tata Power International (TPIPL), a wholly owned subsidiary of the company, for sale of 100% equity stake held in Trust Energy Resources (TERPL), another wholly owned subsidiary of the company for a consideration of $285.64 million.
TERPL will continue to remain fully owned subsidiary of TPIPL and will get merged into TPIPL in the due course, subject to the regulatory approvals.
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