Cabinet ‘In Principle’ approves strategic sale of the Government of India’s existing 52.63% of total paid up equity shareholding in Rural Electrification Corporation to Power Finance Corporation along with transfer of management control

Cabinet ‘In Principle’ approves strategic sale of the Government of India’s existing 52.63% of total paid up equity shareholding in Rural Electrification Corporation to Power Finance Corporation along with transfer of management control https://www.taxtmi.com/news?id=20792 The central executive approved an in-principle Strategic Sale of the government's majority equity in REC to PFC with accompanying Transfer of Management Control, transferring managerial authority from the government to the acquiring Central Public Sector Enterprise; the transaction is intended to integrate financing across the power chain, realise synergies and economies of scale, enhance capability to support energy access and efficiency, and improve fundraising terms for the combined entity. en-us Fri, 07 Dec 2018 09:47:25 +0530 Fri, 07 Dec 2018 09:47:25 +0530 TaxTMI RSS Generator Cabinet ‘In Principle’ approves strategic sale of the Government of India’s existing 52.63% of total paid up equity shareholding in Rural Electrification Corporation to Power Finance Corporation along with transfer of management control https://www.taxtmi.com/news?id=20792 The central executive approved an in-principle Strategic Sale of the government's majority equity in REC to PFC with accompanying Transfer of Management Control, transferring managerial authority from the government to the acquiring Central Public Sector Enterprise; the transaction is intended to integrate financing across the power chain, realise synergies and economies of scale, enhance capability to support energy access and efficiency, and improve fundraising terms for the combined entity. News - Fri, 07 Dec 2018 09:47:25 +0530 https://www.taxtmi.com/news?id=20792