Hindustan Power to quit JV with Caterpillar

Hindustan Powerplus Ltd decided to terminate the joint venture pact between Caterpillar Commercial SA, Belgium and Hindustan Motors Ltd. Caterpillar Commercial SA earlier said it intends to raise its holding in the venture to 100 per cent by acquiring 19,779,914 shares of Rs 10 each at a price of Rs 32 per share.