OPEN APP
Home >Companies >News >Hindustan Construction to move awards, claims to BlackRock-led investors

Hindustan Construction Company Ltd said on Tuesday it would transfer the rights in a portfolio of its awards and claims to a consortium of investors led by BlackRock Inc for 17.50 billion ($254.19 million).

The deal will result in a partial write-down of the company's net worth as on March 31, and a part of the consideration will be used to prepay debts worth 12.50 billion , the company said in a statement. HCC shares surged 10% to 15.75 in late trade.

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint. Download our App Now!!

Close
×
Edit Profile
My ReadsRedeem a Gift CardLogout