A few months after entering a binding agreement with Nuvoco Vistas Corporation to sell its cement business, the Emami group is now divesting its solar power business (Emami Power, 100 per cent owned by promoters) to Brookfield Asset Management. While details, such as deal value are not known and Emami Power is a separate entity from Emami Ltd, the group's listed FMCG company, it will have some bearing on the latter.
The latest deal is a part of the group’s non-core asset sale programme to lower promoter debt. Given that higher promoter pledging (89.2 per cent as of March ...
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First Published: Mon, June 08 2020. 18:47 IST
