{"id":292406,"date":"2019-09-18T06:04:02","date_gmt":"2019-09-18T06:04:02","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=292406"},"modified":"2019-09-18T06:13:02","modified_gmt":"2019-09-18T06:13:02","slug":"tata-power-sells-entire-50-stake-in-south-african-joint-venture-cennergi-for-106-mn","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/tata-power-sells-entire-50-stake-in-south-african-joint-venture-cennergi-for-106-mn\/","title":{"rendered":"Tata Power sells entire 50% stake in South African joint venture Cennergi for $106 mn"},"content":{"rendered":"<p>Tata Power has sold its entire 50 per cent stake in Cennergi, a South African joint venture, for $106 million.<\/p>\n<p>Cennergi Ltd is 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. Post this transaction, Exxaro will have 100 per cent ownership of Cennergi, Tata Power said in a filing to the exchanges.<\/p>\n<p>&#8220;The decision to monetise this South African asset is in alignment with our stated strategy to deleverage the Balance Sheet by divesting sub-optimal size international assets,&#8221; said Praveer Sinha, CEO &amp; Managing Director, Tata Power. &#8220;The proceeds from such sale would be re-invested in emerging areas where there is a huge growth opportunity.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tata Power has sold its entire 50 per cent stake in Cennergi, a South African joint venture, for $106 million. Cennergi Ltd is 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. Post this transaction, Exxaro will have 100 per cent ownership of Cennergi, Tata Power said in a filing to the exchanges. &#8220;The decision to monetise this South African asset is in alignment with our stated strategy to deleverage the Balance Sheet by divesting sub-optimal size international assets,&#8221; [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130],"tags":[],"class_list":["post-292406","post","type-post","status-publish","format-standard","hentry","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/292406","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=292406"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/292406\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=292406"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=292406"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=292406"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}