|
| Exchange Disseminated Time | With reference to the earlier letter dated April 01, 2014, wherein the Company had informed about a press release issued by Alstom, France on April 01, 2014 in respect of its agreement to sell its auxiliary components business to Triton, a leading European investment firm, ALSTOM India Ltd has now informed BSE that on April 07, 2014 the Company has received a letter from Alstom Finance B.V. dated April 04, 2014 requesting the Board of Directors to consider the proposal for disposal by the Company of its auxiliary components business to an Indian legal entity to be specified by Triton, as a going concern on a slump-sale basis, subject to receipt of all relevant corporate consents and in accordance with applicable laws.
This activity is part of the non-core asset disposal programme, announced by Alstom, France in November 2013. The auxiliary components business proposed to be sold is part of the steam segment within Thermal Power and is active both in the new equipment market and aftermarket services across three product lines: air preheaters and gas-gas heaters for thermal power plants, heat transfer solutions for a variety of petrochemical and industrial processes, and grinding mills for diversified industrial applications.
Alstom Finance B.V. has requested the Company to consider the proposal favourably and commence the requisite process under Indian law including determination of the fair valuation of the Auxiliary Components Business/Undertaking and obtaining relevant consents to implement the aforesaid proposal. |
|
|