Tata Power exits South African JV for ZAR 1550 million
Khopoli Investments, a 100 per cent subsidiary of Tata Power has completed the sale of the its entire stake in Cennergi, a South African joint venture to Exxaro Resources for South African Rand (ZAR) 1550 million.
Cennergi (Pty) Ltd was a 50:50 joint venture between Exxaro Resources Ltd and Khopoli Investments Ltd, a wholly owned subsidiary of The Tata Power Company Ltd. Exxaro is a leading South African coal producer.
Exxaro has acquired the entire 50 per cent shareholding of Khopoli Investments Ltd. and will now has a 100 per cent ownership of Cennergi, the company said in a statement.
