India: Jaypee Group in talks to sell stake in power transmission unit

Debt-laden Jaypee Group, which has so far sold power assets worth Rs.11,900 crore, may get luckier and get more funds as it enters into discussions with JSW Group for selling its stake in Jaypee PowerGrid Ltd, according to two people with direct knowledge of the deal. The group is also likely to get more funds from its asset sale of Bina thermal power plant than the stated Rs.2,700 crore, the two people quoted above said. On 18 July, group company Jaiprakash Power Ventures Ltd agreed to sell its 500 megawatt (MW) Bina thermal power plant to JSW Energy Ltd for an enterprise value of Rs.2,700 c

Read more at: http://www.dealstreetasia.com/stories/jaypee-group-in-talks-to-sell-stake-in-power-transmission-unit-48283/

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