IL&FS resolves ₹757-crore debt with IPTF sale
The Hindu
VTTI will now own 90% of the terminal
IL&FS Group said it had completed the sale of its 71.84% stake in IL&FS Prime Terminals FZC (IPTF) to VTTI Terminal I BV (VTTI).
“Sale of IPTF has successfully resolved IL&FS Group debt outstanding to the tune of ₹757.79 crore through this transaction,” IL&FS said.
IL&FS’s stake in Prime Terminals FZC was held through IL&FS Maritime Infrastructure Company Ltd. (IMICL).
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