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| Exchange Disseminated Time 20/12/2016 13:13:28 | | Bajaj Hindusthan Sugar Ltd has informed BSE that the Board of Directors of the Company at its meeting held on December 20, 2016, inter alia, considered approval of sale and transfer of Co-generation power business of aggregating capacity of 449 MW located at 14 locations to Lalitpur Power Generation Company Limited (LPGCL), a group Company for a lumpsum consideration in cash of approximately Rs. 1800 crore, as a going concern on slump sale basis in accordance with the Business Transfer Agreement to be entered into with LPGCL. Entire amount of Cash consideration is proposed to be utilised by Bajaj Hindusthan Sugar Limited towards advance repayment of its existing term debt. The proposed sale and transfer of Co-Gen power business will be subject to approval of members, lenders and all other statutory /regulatory authorities. |
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