Kalpataru Power Transmission snaps deal to sell project to CLP India

CLP India is owned by CLP Group, one of the largest investor-owned power businesses in Asia

Kalpataru Power Transmission (KPTL) on Sunday said it had terminated the deal with CLP India to sell its transmission project ALP for not fulfilling certain conditions.
 

The deal was inked in July last year.
 

“This is in furtherance of our intimation on July 3, 2019, regarding execution of definitive agreement with CLP India for sale of stake in Alipurduar Transmission (ATL), a wholly-owned subsidiary of the company,” a BSE filing said.
 

The Share Purchase and Shareholders Agreement (SPSA) in this regard was executed amongst the company, CLP and ATL on July 3, 2019, the firm said.
 

“We wish to bring