Will selling stake in arms buoy Aban?

Aban Offshore, in a post-market disclosure to the exchanges, said that it has sold 59 per cent of its equity shares held in Aban Green Power Private Ltd and Radhapuram Wintech Private Ltd — subsidiaries of the company. The company has not disclosed any financial details or the identity of the buyers. Aban Offshore expects the deal to be completed by December 31. The transaction is not a related party deal. Analysts will keep a close watch on the developments.