The Board of Directors of Bharat Forge Limited has approved divestment of its 49% stake in the power equipment JV with Alst om, Alstom Bharat Forge Power Private Limited (ABFPL) for US$ 35 million.

The JV incorporated in Delhi with its manufacturing facility at Sanand was formed in 2009 to address opportunities arising from the expansion in the Indian power sector. This transaction is subject to regulat ory and others approvals.