Tata Power Company has signed Share Purchase Agreement (SPA) with Tata Power International (TPIPL), a wholly owned subsidiary of the company, for sale of 100% equity shares held in Trust Energy Resources (TERPL), another wholly owned subsidiary of the company for a consideration of $285.64 million.
The above transaction is expected to be concluded in the next two to three weeks, subject to necessary regulatory approvals, if any. TERPL will continue to remain fully owned subsidiary of TPIPL and will be merged into TPIPL in the due course, subject to the regulatory approvals.
Tata Power Company is India’s largest integrated power company.
