Tata Power cancels $300 million deal with Olympus Capital
Six months after Olympus Capital Holdings Asia inked a deal to buy $300 million worth of shares in Tata Power’s coal special purpose vehicles (SPVs) Bhira Investment Ltd. and Bhivpuri Investment Ltd., Tata has rescinded the deal on the grounds that specific conditions have not been met by the PE firm.
Tata, which announced the deal's breakdown via a statement to the Bombay Stock Exchange, did not elaborate about which conditions had not been met, but noted that, "the conditions precedent as stated therein...
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