Tata Power sells stake in Indonesian firm for $500 million

Tata Power, part of India's largest conglomerate the Tata Group, said the sale would go to increase its cash flow and reduce its consolidated debt, without affecting coal supply to its plants.

February 01, 2014 / 16:15 IST

26 Aug, 2025 12:21

Volume

Todays L/H

Tata Power Company said it had agreed to sell its 30 percent stake in coal mining firm PT Arutmin Indonesia to Indonesia's Bakrie Group for USD 500 million.

Tata Power, part of India's largest conglomerate the Tata Group, said the sale would go to increase its cash flow and reduce its consolidated debt, without affecting coal supply to its plants.

Tata Power signed the agreement through its wholly owned units, the company said in a statement, without specifying them.

The sale is subject to restructuring moves, which Tata Power plans to complete in the next three months, the statement added.

first published: Feb 1, 2014 10:07 am

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Subscribe to Tech Newsletters

Al Edge Newsletter On Saturdays

Find the best of Al News in one place, specially curated for you every weekend.
MC Tech 3 Newsletter Daily-Weekdays

Stay on top of the latest tech trends and biggest startup news.

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347