ASHOK LEYLAND LTD. - Sale of Stake in Ashok Leyland Wind Energy Limited (ALWEL)

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30 Mar 2015
Ashok Leyland Ltd has informed BSE that the Company has divested 48.5% equity stake held in Ashok Leyland Wind Energy Limited (ALWEL) to a buyer and all the relevant agreements to this effect have been signed and closing of the deal has been completed.<BR><BR>Consequent to the above, the shareholding of the Company in ALWEL has come down from 60% to 11.5% and hence ALWEL ceases to be a subsidiary of the Company with immediate effect.<BR><BR>As part of the transaction, the Company has also sold its windmill assets on slump sale basis.<BR><BR>The Company has made a profit of Rs. 6 crore in the above transactions.
View all announcements for ASHOK LEYLAND LTD.	Source: BSE India

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