JSPL receives revised Rs 7,401-crore offer for arm Jindal Power
JSPL on Sunday announced it has received a revised offer of Rs 7,401 crore from Worldone Private Limited for divestment of its subsidiary company Jindal Power Limiter (JPL).
Jindal Steel and Power Limited (JSPL) had earlier announced accepting a Rs 3,015-crore offer from Worldone Private Limited to divest 96.42 per cent stake it holds in the subsidiary company JPL. The divestment is in line with JSPL’s strategic objective to continuously reduce its debt and carbon emissions and focus on steel business.
“After various rounds of discussions and negotiations, JSPL and its transaction advisors have successfully negotiated a revised and improved binding offer from Worldone accommodating all investor feedback received by the company.
