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BIZ-CAB-LD PFC REC MERGER - Cabinet approves sale of govt's 52.63 pc stake in REC to PFC

Contributed by NAMPA / PTI.

New Delhi, Dec 6 (PTI) In the second merger of public sector undertakings under this government, the Cabinet Committee on Economic Affairs (CCEA) on Thursday approved sale of the government's 52.63 per cent stake in REC Ltd to Power Finance Corporation for an estimated Rs 15,000 crore.
"The CCEA gave in principle approval for strategic sale of the Government of India's existing 52.63 per cent of total paid up equity shareholding in REC Ltd to Power Finance Corporation along with transfer of management ...

 

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