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| Exchange Disseminated Time 06/10/2016 16:03:29 | Jaiprakash Power Ventures Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 06, 2016, inter alia, has :
1. Considered and accepted the recommendations of the Committee of Directors (for restructuring) as well as of the Audit Committee for acceptance of Offer of Orient Cement Limited for acquisition of 2 Million Ton Per Annum Nigrie Cement Grinding Unit as a going concern basis at a consideration linked to a total enterprise value of Rs. 500 crore subject to mutually agreed adjustments, execution of definitive agreement and all such approvals, as might be required.
2. The Board noted that the Company is in discussion with its lenders for further steps for implementation of Strategic Debt Restructuring. |
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