POWER

NTPC Board okays acquisition of govt stake in NEEPCO, THDC

State-owned power giant NTPC on Monday said its board has given in-principal approval to acquire government’s 100 per cent stake in North Eastern Electric Power Corporation Ltd(NEEPCO) and 74.5 per cent stake in THDC India Ltd.

“The Board of Directors (in its meeting held on January 27, 2020) has accorded in-principle approval for the acquisition of entire equity stake of Government of India in NEEPCO (100 per cent of paid up share capital of NEEPCO) and THDC (74.5 per cent of paid up share capital of THDC),” a BSE filing said.

According to the statement, the Board of Directors of NTPC Ltd, in its meeting held today has noted that the in-principle approval accorded by the Cabinet Committee on Economic Affairs (CCEA) in their meeting held on November 21, 2019, for strategic sale of entire equity stake held by the Government of India in NEEPCO and THDC to the NTPC Ltd, along with transfer of management control.

The decision of CCEA was conveyed to us by the Ministry of Power on December 2, 2019, the company added.

Source
The Economic Times
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