DLF has entered into a definitive Business Transfer Agreement with Goyal MG Gases for transferring of an unit comprising of 11.2 MW capacity wind turbines situated at Gadag, Karnataka on ‘as is where is basis’ by way of slump-sale for a lump sum consideration of Rs 29.52 crores subject to adjustment for net working capital. Upon fulfillment of the terms and conditions by both the parties in accordance with the said agreement, the entire unit as mentioned above including related assets and liabilities along with relevant long term loans would be vested to Goyal MG Gases. The shareholders of the Company had approved the sale of the said unit on July 20, 2012.
The transaction is expected to be consummated by December 31, 2013, subject to regulatory approvals. The transaction is in line with the DLF's objective of divesting its noncore assets.
The country’s largest realty firm is targeting to bring down the net debt to Rs 10,000-11,000 crore from Rs 21,350 crore within the next three years with the help of proceeds from the issue of shares and sale of non-core assets.
| Company Name | CMP |
|---|---|
| Lodha Developers | 871.70 |
| Dilip Buildcon | 457.55 |
| DLF | 601.80 |
| Oberoi Realty | 1710.00 |
| Ahluwalia Contract(I | 832.90 |
| View more.. | |
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