HINDUSTAN CONSTRUCTION CO.LTD. - Clarifies on News Item
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| 23 Sep 2014 | |
| With reference to the news item appearing in the media titled "Piramal Ent Eyes HCC's Two Road Projects", Hindustan Construction Company Ltd has Clarified to BSE as under:<br/><br/>"1) We have been in discussion with several buyers along with the Piramal Group for the sale of our three NH-34 road projects in West Bengal.<br/><br/>2) we have signed a preliminary, non-binding term sheet for Baharampore Farakka Highway project on April 16, 2014 subject to detailed Technical, Financial, Legal and Tax due-diligence and approvals from all applicable authorities. The due-diligence process is underway and is expected to be completed soon.<br/><br/>3) we are also in advanced stages of negotiation with Piramal to sign a second term sheet for Farakka-Raiganj Highways. Once again, this second term sheet will be non-binding and subject to detailed Technical, Financial, Legal and Tax <br/>due-diligence and approvals from all applicable authorities.<br/><br/>As required by the listing agreement, the Company will inform the Stock Exchange after the completion of the transaction.<br/><br/>The Company further confirms that it has not released any specific information pertaining to the news report and if required will make necessary disclosures at an appropriate time." | |
| View all announcements for HINDUSTAN CONSTRUCTION CO.LTD. | Source: BSE India |
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