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Alstom T&D India enters into sale agreement for Bengaluru land for Rs 120 crore

17 Dec 2013 Evaluate

Alstom T&D India has entered into an ‘Agreement for Sale’, with a large Indian Business Group company, for sale of its Bengaluru land for a total sale consideration of approximately Rs 120 crore. The sale is subject to the mutual satisfaction of terms, conditions and obligations mentioned in the agreement for sale and it is likely to be concluded upon execution of a ‘Sale Deed’ in three months’ time or earlier.

The company’s land in Bengaluru was used for manufacturing instrument transformers and the sale of the land has been duly authorized by the shareholders of the company.

Alstom T&D India is part of Alstom Grid, a global player in electrical grids. The company’s India operations account for over 13% of overall revenues garnered by Alstom Grid’s global operations. Apart from India business, other major contributors are the operations in France, the US, Germany and China.

GE Vernova T&D India Share Price

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