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After being "welcomed" by potential buyers in both branches, Infrastructure Leasing & Financial Services (IL & FS) launched the process of selling the controlling interests held by the IL & FS Group in the badets and activities related to renewable energies.
In order to determine the market interest and to examine the feasibility of maximizing value in an orderly and transparent manner, the Board, acting on behalf of its relevant subsidiaries, initiated the process today. # 39; hui. "[19659002] The badets include:
(i) operating wind power plants with a total capacity of 873.5 MW, as well as plants under construction in excess of 104 MW under construction;
ii) badet management services for operating wind power plants, as well as for the commercial division responsible for project development and commissioning of power plants. wind turbines;
development and implementation of solar energy production facilities projects and projects under development of solar energy facilities with a capacity of 39, about 300 MW for companies, etc.
READ ALSO: Chronology IL & FS: When and What Happened Up to Now? [19659002] According to the Council, he is aware that these steps are necessary to advance in the process of setting up one or several resolution plans for the group IL & FS, based on the market interest and the discovery of the price of various badets.
The proposed sale may be
"Accordingly, the Commission has decided to solicit expressions of interest publicly in order to evaluate the interest in the sale of its interest in the renewable energy project. Assets. The Council is taking steps to solicit the public interest in this regard, "the statement added.
A day before, the infrastructure conglomerate announced that it had received more than a dozen of EoI for the proposed sale of its two arms – IL & FS Securities Services Ltd (ISSL) and ISSL Settlement & Transaction Services (ISTSL). The new board of the company reviews the eligibility of the statements of interest.
Any binding transaction for the sale of badets, as well as the resulting resolution plan (s), will be subject to prior approval (including NCLT) prior to their implementation. .
On October 30, the new board of IL & FS appointed by the National Company Law Tribunal (NCLT) submitted a report to the Department of General Affairs on the progress made and the outlook for the future.
The report states that the Board's objective is: to obtain, through one or more plans, the resolution of the IL & FS Group through certain measures, including the divestment of badets.
The board appointed Arpwood Capital and JM Financial financial and transaction advisers, as well as Alvarez & Marsal as resolution. Consultants.
Read also: IL & FS is a "complex labyrinth": will public money come to the rescue?
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