JSPL to sell entire stake in Oman arm for $1 billion

JSPL to sell entire stake in Oman arm for $1 billion

Jindal Steel and Power (JSPL) on Tuesday said it would transfer its entire stake in its Oman asset, Jindal Shadeed Iron and Steel, to another promoter group firm, Templar Investments, for an enterprise value of over $1 billion. Templar Investments, Mauritius, is an investment company. In a statement on Tuesday, JSPL said it had accepted a binding offer from Templar Investments to divest its entire stake in its Oman arm in line with its commitment to continuously bring down debt and de-leverage balance sheet.

Read more at 
The Financial Express

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