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PFC allays investor concerns over govt stake buyout in REC, says acquisition deal size yet to be finalised
FirstpostOn 20 December, the PFC’s board gave in-principle approval to the acquisition of the REC, it said. New Delhi: Allaying investors’ concerns over acquisition of the government’s stake in Rural Electrification Corporation Limited, Power Finance Corporation on Thursday said it has not decided on definitive pricing of the deal and its impact cannot be assessed at this stage. “Currently, PFC has not agreed to a definitive pricing for acquiring government’s stake in REC, and the figures being discussed in various media reports are purely speculative in nature. “Having said that, we would like to assure investors that PFC will make all necessary efforts to maintain its capital adequacy at all times, as per the limits prescribed by Reserve Bank of India.” On concerns related to potential merger of the REC with the PFC subsequent to the acquisition, the PFC said no decision has been taken yet in this regard.
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