Corporate News 06-Jun-14
Board of ALSTOM India approves for sale of auxillary components undertaking
At meeting held on 05 June 2014
ALSTOM India announced that the Board of Directors of the Company at its meeting held on 05 June 2014 has accorded its approval, subject to the approval of the shareholders of the Company to the sale and transfer by the Company of its business of Air Preheaters and Industrial Mills (Auxiliary Components Undertaking) to OAK Energy India, an Indian legal entity of Triton (a leading European investment firm), as a going concern on a ‘slump sale' basis, for a lump sum consideration of Rs 51.3 crore in cash, as enterprise value.
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