New Delhi, Jun 30 (PTI) Jindal Steel and Power Ltd (JSPL) on Tuesday said it will offload its entire stake in Oman-based subsidiary for over USD 1 billion (Rs 7,500 crore).

JSPL, in a statement, said its subsidiary "Jindal Steel and Power (Mauritius) Ltd (JSPML) has accepted a binding offer from Templar Investments Limited to divest its entire stake in its Oman asset Jindal Shadeed Iron and Steel Co LLC (JSIS Oman)".

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The enterprise value of the deal is over USD 1 billion, it said.

The transaction is subject to approval from shareholders of JSPL and lenders of JSIS Oman, among others.

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The company said it expects the transaction to close approximately in a month.

JSPL, a part of the OP Jindal Group, has presence in steel, power, mining and infrastructure sectors.

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