×
Home Companies Industry Politics Money Opinion LoungeMultimedia Science Education Sports TechnologyConsumerSpecialsMint on Sunday
×

Tata Power scraps fund-raising pact with PE firm

Tata Power scraps fund-raising pact with PE firm
Comment E-mail Print Share
First Published: Mon, Jan 03 2011. 08 39 AM IST
Updated: Mon, Jan 03 2011. 08 39 AM IST
New Delhi: Indian utility Tata Power Co said on Monday it had terminated an agreement to raise $300 million by issuing shares with differential rights in two of its special purpose vehicles to private-equity firm Olympus Capital Holdings Asia.
Tata Power said in a statement to the stock exchange that certain conditions stated in the investment agreement were not fulfilled, without elaborating.
The company had said in June last year it was raising the money to fund acquisitions and cut debt.
Comment E-mail Print Share
First Published: Mon, Jan 03 2011. 08 39 AM IST