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Last Updated : Dec 14, 2011 07:39 PM IST | Source: CNBC-TV18

Electrotherm may conclude stake sale of pipe arm this week

CNBC-TV18 learns from sources that Electrotherm India is likely to conclude stake sale of pipe business this week.


CNBC-TV18 learns from sources that Electrotherm India is likely to conclude stake sale of pipe business this week. The deal size is likely to be in the range of Rs 700-1,000 crore.


Sources say the pipe business is been bought by a leading multinational glass manufacturer.


Electrotherm plans to use the sale proceeds for debt repayment. Its total debt stood at Rs 2,264 crore as on March 2011.

When contacted, the Electrotherm management refused to comment on the stake sale.



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First Published on Dec 14, 2011 03:41 pm
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