BRIEF-Bajaj Hindusthan Sugar approves sale of co-generation power business in Uttar Pradesh to LPGCL

Bajaj Hindusthan Sugar Ltd BJHN.NS

* Approved sale and transfer of co-generation power business of capacity of 449 MW located in uttar pradesh to LPGCL

* Co has also negotiated escalation to tariff for power and margin on steam to be bought by co from LPGCL

* Says entire amount of cash consideration to be utilised towards advance repayment of existing term debt

* Deal expected to be completed by june 30, 2017 Source text – Further company coverage: BJHN.NS