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NTPC buys 44.6 pct in transformer firm

Indian state-run power generator NTPC said on Monday it was buying a 44.6 percent stake in Transformers and Electricals Kerala Ltd from the Kerala state government.

The country's largest power producer said the stake was valued at 313.4 million rupees ($6.4 million), although the final price was subject to valuation of assets as at end March 2009.

Transformers and Electricals Kerala makes and repairs heavy duty transformers. (Forbes)

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