The government has proposed that PFC acquire REC, while Kesoram Industries is demerging its tyre business. Also, HCL Technologies has agreed to bring Barclays’ employees in Lithuania under its fold.
State-owned PFC may acquire REC
The government has put proposed that state-owned Power Finance Corp could acquire another power public sector unit REC in a Rs 14,000-crore deal, according to a report in The Economic Times, quoting sources. The latest proposal, which is a part of the government’s attempt to meet its divestment target of Rs 80,000 crore, is a reversal of the previous plan of REC taking over PFC.
