Tata Power to promote stake in Trust Energy Resources to Tata Power International

Tata Power to promote stake in Trust Energy Resources to Tata Power International

by admin- Friday, July 23rd, 2021 04:32:56 PM

Tata Power signed Share Purchase Agreement (SPA) on July 22, 2021 with Tata Power International Pte. Ltd. (TPIPL, a completely owned subsidiary of the Company, for sale of 100% fairness stocks held in Trust Energy Resources Pte Ltd (TERPL, any other totally owned subsidiary of the Company for a consideration of$ 285.Sixty four million.

TERPL will continue to remain completely owned subsidiary of TPIPL and could qe merged into TPIPL inside the due course, challenge to the regulatory approvals.

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