Tata power divests entire 50pc stake in South African JV Cennergi for ZAR 1,550 mn
Cennergi was a 50:50 joint venture between Exxaro, a leading South African coal producer and Khopoli, a wholly-owned subsidiary of Tata Power.
"The Company has announced today the completion of the Sale of its entire 50 per cent stake in Cennergi (Pty) Ltd (Cennergi), a South African joint venture held via Khopoli Investments Ltd (Khopoli) in Mauritius to Exxaro Resources Ltd (Exxaro), for an amount of ZAR 1,550 Million plus additional nominal working capital and other adjustments," a Tata Power statement said.The Exxaro will now have 100 per cent ownership of Cennergi. KKS MRMR
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