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DLF Ltd Enters Into Definitive Business Transfer Agreement With Bharat Light & Power Pvt. Ltd's BLP Vayu (Project 1) Pvt. Ltd.

Thursday, 31 Jan 2013 01:00am EST 

DLF Ltd announced that the Company along with DLF Home Developers Ltd., the Company’s wholly owned subsidiary has 227 MW capacity wind turbines in four states engaged in generation of electricity and sale of the same. The Company has entered into definitive Business Transfer Agreement with BLP Vayu (Project 1) Pvt. Ltd., a subsidiary of Bharat Light & Power Pvt. Ltd. for transferring of its undertaking comprising of 150 MW capacity wind turbines situated at Kutch, Gujarat on ‘as is where is basis’ by way of slump-sale for a lump sum consideration INR2.823 billion. Subject to the fulfilment of the terms and conditions by both the parties in accordance with the said agreement, the undertaking as mentioned above including related assets and liabilities along with relevant long term loans would be transferred to BLP Vayu (Project 1) Pvt. Ltd. The shareholders of the Company had approved the sale in July, 2012. The transaction is expected to be consummated on receipt of requisite regulatory approvals. 

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2.05 +1.53%
3:31am EST