February 19, 2018 / 12:58 AM / 3 months ago

BRIEF-Sembcorp Industries ‍Announces Reorganisation Of India Energy Ops​

Feb 19 (Reuters) - Sembcorp Industries Ltd:

* ‍ANNOUNCES REORGANISATION OF ITS INDIA ENERGY OPERATIONS​

* REORG INCLUDES SEMBCORP UTILITIES TRANSFERRING 88% STAKE IN SEMBCORP GAYATRI POWER TO THERMAL POWERTECH CORPORATION INDIA

* ‍REORG INCLUDES TRANSFER BY SEMBCORP’S PARTNER, GAYATRI ENERGY VENTURES (GEVPL), OF ITS ENTIRE 12.0% STAKE IN SGPL TO SEIL​

* ‍CONSIDERATION FOR TRANSFERS WAS SETTLED IN SEIL SHARES, ISSUED AS FRESH EQUITY TO SCU AND GEVPL​

* THERMAL POWERTECH CORPORATION INDIA RENAMED SEMBCORP ENERGY INDIA LTD

* ‍REORGANISATION IS NOT EXPECTED TO HAVE A MATERIAL IMPACT ON EARNINGS PER SHARE FOR FINANCIAL YEAR ENDING DECEMBER 31, 2018​ Source text for Eikon: Further company coverage:

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