 "The divestment is in line with JSPL’s vision and commitment to continuously bring down its debt")
Shares of Jindal Steel and Power Ltd (JSPL) declined up to 3.5 per cent to Rs 155.35 on the BSE on Wednesday after the company said it's subsidiary Jindal Steel & Power (Mauritius), or JSPML has accepted a binding offer from Templar Investments to divest its entire stake in its Oman asset, Jindal Shadeed Iron and Steel (JSIS Oman).
The enterprise value of the deal is over $1 billion and Alpen Capital, a West Asia-based investment bank was appointed to run the sale process, which received competitive offers from multiple interested bidders.
"The divestment is in line with JSPL’s vision
