Webel-SL cancels plan to buy Singapore JV

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Webel-SL
New Delhi, Feb 21: Solar cell maker Webel-SL Energy Systems Ltd today said its board had decided to cancel its earlier decision to acquire the remaining 75 per cent stake in a joint venture in Singapore. The company, which owns 25 per cent in a joint venture with Micro Power Trading Co Pvt Ltd, had, on February 1, said it has got board approval to buy out the remaining stake for Rs 168 crore. Webel-Sl Energy Systems was to acquire the balance 50,000 shares (equivalent to 75.08 per cent of the equity share capital) in the JV called Micro Power Trading.

UNI

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