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IL&FS sells its environment business, reduces debt by Rs 1,200 cr

IL&FS sells its environment business, reduces debt by Rs 1,200 cr
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IANS
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IL&FS. (File Photo: IANS). Image Source: IANS News
Mumbai, April 7 : IL&FS has sold its stake in IL&FS Environmental Infrastructure & Services Limited (IEISL) and its subsidiaries to EverEnviro Resource Management Private Limited (EverEnviro), a 100 per cent owned subsidiary of the Green Growth Equity Fund (GGEF), a climate fund, managed by EverSource Capital.
This sale will reduce the overall debt of IL&FS by Rs 1,200 crore, which is the combined debt of entities under IL&FS environment businesses, IL&FS said in a statement.
IL&FS, as the promoter shareholder of IEISL, held 97.54 per cent of equity shares of the company. The balance 2.46 per cent was held by IL&FS Employee Welfare Trust. The entire shareholding in IEISL, held by IL&FS Group, has been transferred to EverEnviro. ....

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IL&FS sells environment arm to Eversource; pares total debt by Rs 1,200 cr

IL&FS sells environment arm to Eversource; pares total debt by Rs 1,200 cr
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