JSPL to sell Oman subsidiary to Templar Investments Ltd for $1Bn to bring down its debt
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Jindal Steel and Power Ltd has accepted an offer to sell its entire stake in Jindal Shadeed Iron and Steel Co LLC (JSIS Oman) to promoter company Templar Investments Ltd. Templar Investments Ltd was one of the highest bidders for the deal. The value of the deal is over $1 billion. This deal will be done to bring down the existing debt of the company and leverage the current balance sheet. "This sale is in-line with our vision to reduce debt and create a much healthier balance sheet for our investors and stakeholders. We firmly believe and aim to be a part of India growth story," said VR Sharma, MD, JSPL. Listen in! Subscribe To ET Now For Latest Updates On Stocks, Business, Trading | ► https://goo.gl/SEjvK3 Subscribe Now To Our Network Channels :- Times Now : http://goo.gl/U9ibPb The NewsHour Debate : http://goo.gl/LfNgFF To Stay Updated Download the Times Now App :- Android Google Play : https://goo.gl/zJhWjC Apple App Store : https://goo.gl/d7QBQZ Social Media Links :- Twitter - http://goo.gl/hA0vDt Facebook - http://goo.gl/5Lr4mC G+ - http://goo.gl/hYxrmj Website - www.etnownews.com
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