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    HomeNewsBusinessCompaniesTata Power terminates Olympus Capital's USD 300 million investment pact

    Tata Power terminates Olympus Capital's USD 300 million investment pact

    Tata Power has terminated Olympus Capital's USD 300 million investment pact.

    January 03, 2011 / 14:34 IST
    Tata Power Company Ltd has informed BSE that the Company had signed an agreement to raise US0 million in Bhira Investments Limited and Bhivpuri Investments Limited, Special Purpose Vehicles (SPVs) through issue of shares with differential rights to Olympus Capital Holdings Asia (Olympus Capital).

    The investment was subject to completion of certain conditions precedent, as specified in the Investment Agreement. The conditions precedent as stated therein were not fulfilled by the Long Stop Date.

    The Company, Bhira and Bhivpuri have exercised their rights under the Investment Agreement and have terminated the Investment Agreement on January 01, 2011.
    Source : BSE
    first published: Jan 3, 2011 02:34 pm

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