Business Daily from THE HINDU group of publications
Friday, Dec 21, 2007
ePaper | Mobile/PDA Version
News
Features
Stocks
Cross Currency
Shipping
Archives
Google

Group Sites

 Corporate - Mergers & Acquisitions
Get Latest BSE Quote
BHEL acquiring Bharat Heavy Plate

New Delhi, Dec 20 State-owned Bharat Heavy Electricals Ltd (BHEL) would take over Bharat Heavy Plate & Vessels Ltd (BHPV), Visakhapatnam, as a subsidiary and pump-in Rs 275 crore as capital expenditure into the company. Besides this, BHEL would also invest Rs 34 crore as equity in the company.

The Department of Heavy Industry had proposed that Government may waive or write-off loans and interests to BHPV amounting to Rs 414.95 crore and settle all outstanding liabilities of BHPV amounting to Rs 263.97 crore. The Government approved `in principle' the take over of BHPV by BHEL. The Cabinet, last month, approved the financial restructuring and strengthening package of BHPV, with the direction that the valuation of BHPV be carried out prudently on the basis of established principles. - Our Bureau

More Stories on : Mergers & Acquisitions | Electrical Goods | Bharat Heavy Electricals Ltd

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Ginger enters Gujarat with its 11th property in Vadodara

Phoenix Mills’ new structure
Simplex infra raises Rs 400 cr
Nod for Mascon Global pref issue
Tatas want apology from Orient Express Hotels
HEG converts FCCBs
Hind Const bags DMRC contract
Nagarjuna wins Oman road project
BMW to augment global sourcing share from India
Order staying TVS’ Flame sale suspended
Andrew Yule to spin off electrical and engineering biz
Jaguar-Land Rover suitor likely today
Fursa Mauritius picks up 43% stake in Gayatri Starchkem
India Inc signs deals worth $68.32 b in 2007
BHEL acquiring Bharat Heavy Plate
Gujarat NRE Australian mergers
IBM inks 5-year deal with Sankara Nethralaya
Intex scouts for jt venture partner
‘Maruti is ready to play a much bigger role in Suzuki’s global operations’
Tata Motors to launch slew of vehicles in 2008
DuPont India to close 2007 with $425 m revenues

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright © 2007, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line