Bharat Forge exits power equipment JV

Auto components major Bharat Forge today said it has completed divestment of balance 26 per cent stake in power equipment JV with GE, Alstom Bharat Forge Power Pvt Ltd.
With this, the company has completed divestment of its shareholding in Alstom Bharat Forge Power Pvt Ltd to GE, Bharat Forge said in a regulatory filing.
The consideration received from the disposal was USD 35 million, which was received in March last year, the company said.
Bharat Forge shares closed 0.58 per cent up at Rs 772.55 on BSE.