Alstom India’s board of directors in its meeting held on January 15, 2014 has accorded its approval, subject to the approval of the shareholders of the Company and such other approvals, consents, permissions and sanctions as may be deemed necessary, to the sale and transfer by the Company of its transportation systems undertaking to a group company, Alstom Transport India (Alstom Transport), as a going concern on a 'slump sale' basis.
The slump sale will be for a lump sum consideration without values being assigned to individual assets and liabilities, for a total consideration not less than Rs 176.9 crore in cash, as enterprise value, subject to such adjustment for change in Net Asset Value excluding cash and debt (which was Rs 60 crore as on 30 September 2013) and on such terms and conditions as may be required in this regard.
Alstom is a global leader in power generation, power transmission and rail infrastructure. Present in India since 1911, Alstom has strong capabilities in engineering, manufacturing, project management and supply of products and solutions for infrastructure.
