Cash-starved West Bengal plans to raise approximately Rs 450 crore by offloading its balance 10% stake of 155 mln shares in Haldia Petrochemicals (HPL) back to the company, as per Financial Express. TThis will leave majority shareholder Purnendu Chatterjee-led TCG with two options of either significant cash outgo to buy the 10% stake or letting the stake be snapped up by competitors.
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Monday, November 14, 2011
Cash-starved West Bengal plans to offload 10% residual stake in Haldia Petrochemicals
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