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| Exchange Disseminated Time 24/08/2016 10:31:03 | Diamond Power Infrastructure Ltd has informed BSE that the Core Committee of the Lenders of the Company met on August 23, 2016. E&Y presented their evaluation on all responses received from various financial and strategic investors and decided to recommend to Joint Lenders Forum that the offer received from Jiangsu Longzhe is best offer, the modalities and terms sheet of Jiangsu Longzhe was discussed in details to finalize the next steps of the transactions.
E&Y was mandated by Company's Lenders to evaluate alternative options and finalize the best option in June 2016 and this exercise leads to conclusion of a fair and transparent process of investor induction followed by the lenders in the Company. |
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