KLG Systel board to meet as sales slump

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KLG Systel Ltd
New Delhi, Apr 15: KLG Systel Ltd today said its board will meet tomorrow to consider and approve slump sale of its power division's assets, liabilities and business to its subsidiary, KLG Power Ltd.

Mauritius-based TPG Growth India Advisors, part of the 50 billion dollar alternative asset management group TPG Private Equity Investment, will also invest in KLG Power through convertible debentures, said a statement. ''The above proposed steps shall create value for investors of the Company through additional investment and business synergies to be provided by TPG group,'' the statement added.


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