Bharat Forge exits JV with GE

Bharat Forge has completed its divestment from the former joint venture with French multinational Alstom.

The Indian component major announced completion of the sale of balance equity of 26 percent in the power equipment JV to GE. With this, the company has completed the divestment of its shareholding in Alstom Bharat Forge Power Pvt Ltd (ABFPL) to GE.

The agreement for sale was implemented on November 8, 2016 and the sale was completed today. The sale was worth $35 million (roughly Rs 227 crore) on March 24, 2017.