Infrastructure company KEC International today said it has entered into a pact with ATC Telecom Tower for sale of telecom assets in Chhattisgarh, Meghalaya and Mizoram comprising 381 telecom sites.
“The company has entered into a binding agreement for sale of its telecom assets in the states of Chhattisgarh, Meghalaya and Mizoram consisting of 381 telecom sites to ATC Telecom Tower,” it said in a filing to the BSE.
KEC International which is an engineering, procurement & construction (EPC) company also said the transaction is necessary approvals.
“The transaction is subject to obtaining necessary regulatory and third party approvals and complying with the conditions mentioned in the agreement,” it said.
The infrastructure firm has presence across power transmission, power systems, cables, railways, telecom and water space.
The shares of the company were trading at Rs 102.50 a scrip up 1.69 per cent from previous close on the BSE at about 1300 HRS.