Tata Power Subsidiary to exit South African JV `Cennergi` for USD 106 million
(WorldNews Asia)

Share Purchase Agreement signed between Khopoli Investments Ltd. (a 100% subsidiary of Tata Power) and Exxaro Resources Ltd. Exxaro to acquire entire 50% stake of Khopoli Investments Ltd., a wholly owned subsidiary of The Tata Power Company Ltd., in Cennergi for ~ USD 106 million Khopoli Investments Ltd. (a 100% subsidiary of Tata Power, `the Company`) today announced the execution of a Share Purchase Agreement with Exxaro Resources Ltd. for the divestment of the Company`s entire 50% stake in Cennergi, a South African joint venture, for an amount of ZAR 1,550 million (USD 106 million), subject to normal working capital and other adjustments. The agreement will be subject to, amongst others,...