Tata Power arm TPIPL acquires 10% equity in ABV; total stake rises to 50%
NEW DELHI: Tata Power on Wednesday said its arm Tata Power International Pte Ltd (TPIPL) has acquired 10 per cent stake in Adjaristsqali Netherlands BV (ABV) from the International Finance Corporation (IFC) for USD 150,000 (about Rs 1.13 crore).
The 10 per cent stake acquisition has increased TPIPL’s shareholding in ABV to 50 per cent.
“Tata Power International Pte Ltd (TPIPL), a wholly-owned subsidiary of the company, has acquired 10 per cent equity stake Adjaristqali Netherlands BV (ABV) from International Finance Corporation (IFC) for a sum of USD 150,000,” according to a statement by Tata Power.
