Online edition of India's National Newspaper
Tuesday, September 04, 2001
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Online edition of India's National Newspaper Tuesday, September 04, 2001 |
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Tata Power to sell stake in TLL
By Our Special Correspondent
MUMBAI, SEPT. 3. Tata Power Company today decided to sell its
stake consisting of 45 lakh shares in Tata Liebert Ltd. (TLL) at
Rs. 170 per share to Emerson Electric (Mauritius) Ltd.TLL is a
50:50 joint venture between Tata Power and Liebert Corporation, a
wholly-owned subsidiary of Emerson Electric. The company will
become a 100 per cent subsidiary of Emerson Electric ``subject to
necessary approvals'', on completion of the exercise.
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