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Real estate major DLF has entered into a definitive business transfer agreement wih Goyal MG Gases to sell its Gadag, Karnataka-based wind turbine unit for Rs 29.52 crore of 11.2 MW capacity.
Upon fulfilment of the terms and conditions by both the parties in accordance with the agreement, the entire unit including related assets and liabilities along with relevant long term loans would be vested to Goyal MG Gases.
"The transaction is expected to be consummated by December 31, 2013, subject to regulatory approvals. The transaction is in line with the DLF's objective of divesting its non core assets", said DLF in a release sent to the Bombay Stock Exchange.
