Triveni Engineering in talks for partners for turbine business

Triveni Engineering & Industries Ltd is in talks to find a strategic partner for its turbine business and plans to finalise it in a month, a senior official told Reuters on Thursday.                                           

The diversified firm on Wednesday approved spinning off its turbine business into a separate entity, but did not divulge any details.                                            

The demerger "will allow it to enter into partnerships... which will be finalised in the next month or so," executive director Nikhil Sawhney said over the telephone.                                           

"In the near future, we will evaluate structuring the other avenues to add value to shareholders," he added.