L&T Finance transfers 9.9% CG Power stake, valued Rs 87.5 cr, to itself
L&T Finance on Monday bought a 9.9 per cent stake in CG Power and Industrial Solutions (CG Power) from Vistra ITCL, which was earlier acting as the trustee for L&T Finance shares in the company.
The 9.99 per cent CG Power stake purchased by L&T Finance was valued at Rs 87.5 crore, according to bulk deal data available with exchanges.
“Shares were held by Vistra, as trustees for L&T Finance. L&T Finance has transferred them unto itself from Vistra, which were hitherto held as collateral,” a spokesperson for L&T Finance said in response to an email query.
In September, KKR bought a 10.01 per cent stake in CG Power in a similar transaction. KKR India Debt Opportunities Fund II and KKR India Financial Services bought that stake in CG Power from Vistra ITCL.
