December 30, 2016 / 1:21 PM / 8 months ago

BRIEF-ANG Industries in talks to monetise certain assets to reduce debt

Dec 30 (Reuters) - ANG Industries Ltd :

* says unit in question is an export unit and after the proposed sale the company shall be left with 2 other units situated in Sitarganj (Uttrakhand) and SEZ Noida UP

* says co, bankers in talks in various joint lender forum meetings to monetise certain assets to reduce debt

* clarifies on news item "SBI plans to sell manufacturing plants of ang industries limited"

* SBI on behalf of the banks have given mandate to sbi capital markets to find a potential buyer based on Swiss challenge method

* any asset sale by company is subject to all the bankers agreeing and hence EOI was taken out to start the process by SBI caps Source text:(bit.ly/2hzido7) Further company coverage: (Bengaluru newsroom)

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