At meeting held on 16 November 2014
Jaiprakash Power Ventures announced that the Board of Directors of the Company at its meeting held on 16 November 2014 approved the Securities Purchase Agreement with JSW Energy regarding sale of the securities in Himachal Baspa Power Company (a subsidiary of the Company) to JSW subject to satisfaction of conditions precedent including approval of the scheme of arrangement approved by the Board on 15 November 2014.The consideration to be received from JSW Energy is linked to a base enterprise value of approximately Rs 9700 crore for the 300 MW Baspa-II Hydro Electric plant and 1091 MW Karcham Wangtoo Hydro Electric plant subject to mutually agreed adjustments.
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