PFC plans to acquire government's shareholding in REC
19th Feb 2019

Power Finance Corporation (PFC) has planned to acquire government's shareholding and management control of Rural Electrification Corporation (REC) by March 31, 2019.

The company has received all regulatory approvals required for the deal and that the transaction price has not been finalised as yet.

PFC provides large range of financial products and services like project term loan, lease financing, direct discounting of bills, short term loan, and consultancy services for various power projects in generation, transmission, distribution sector as well as for renovation and modernization of existing power projects.