NEW DELHI: Largest real estate firm DLF has signed
agreements to sell its wind power assets in Tamil Nadu and Rajasthan for around
Rs 241 crore.
This is part of the company's strategy to sell non-core assets to trim debt.
In a notice to the Bombay Stock Exchange, the company said that a
definite agreement has been entered into by the company's wholly-owned
subsidiary DLF Home Developers ( DHDL) and Tulip Renewable Powertech for the
transfer of its 34.5 MW Tamil Nadu wind mill.
"The transactions are in line with DLF's objective of
divesting its noncore assets," said the statement.
This would also include
transfer of related assets and liabilities (including current assets and
liabilities) and relevant long-term loans of the company to Tulip Renewable
Powertech on an as-is-where-is basis by way of slump sale for a lump sum consideration
of Rs188.7 crore. The company has also signed a similar agreement with Violet
Green Power for sale of its 33 MW Rajasthan windmill for Rs52.2 crore.
In January, DLF had entered into definitive business
transfer agreement with BLP Vayu, a subsidiary of Bharat Light&Power, for
transferring its wind power assets comprising 150 MW capacity wind turbines
situated in Kutch, Gujarat, on an 'as-is-whereis-basis' by way of slump sale
for Rs 282.30 crore.
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