"The company has divested 23 per cent of its shareholding in power equipment JV with GE (erstwhile Alstom)-Alstom Bharat Forge Power Ltd (ABFPL)," said the city-based manufacturing behemoth in a regulatory filing to the BSE.
The divestment was made as per the approval of the company's board on November 8, 2016 to divest 49 per cent of its stake in the JV.
"The transaction for the balance 26 per cent equity will be consummated upon receipt of customer approvals for certain projects," said the filing.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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