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Actis, Brookfield look to buy Mahindra’s EPC, solar assets
The development follows Mahindra and Mahindra Ltd’s announcement that it plans to take 10 of its most promising units, including Mahindra Susten, public in the next 5-7 years. AFP
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Private equity firm Actis Llp and Brookfield Asset Management Inc., among others, are eyeing Mahindra Susten’s engineering, procurement and construction (EPC) business, besides its under-construction 600MW solar assets, said two people aware of the development, seeking anonymity. The deal is valued around $500 million, they added.
The sale of Mahindra Susten’s assets, and the EPC business is being handled by EY.
India: Actis, Brookfield eye Mahindra’s EPC, solar assets in deal valued at $500m
Photo: Pixabay Premium
Private equity firm Actis Llp and Brookfield Asset Management Inc., among others, are eyeing Mahindra Susten’s engineering, procurement and construction (EPC) business, besides its under-construction 600MW solar assets, said two people aware of the development, seeking anonymity. The deal is valued around $500 million, they added.
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National Investment and Infra Fund emerges top bidder for Mahindra Susten s solar assets
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If the deal materialises, it would be the first major acquisition by NIIF in the renewable energy space. NIIF is already an investor in CDC-owned Ayana Renewable Energy and Everstone Capital-owned Eversource.
Reuters
Mumbai: The National Investment and Infrastructure Fund (NIIF) is the frontrunner to acquire about 617 megawatts (MW) worth assets of Mahindra Susten, the solar energy EPC platform owned by the Mahindra group, outbidding global private equity funds Brookfield Asset Management Inc and KKR, two people aware of the development said.
The major operational assets that are to be sold include a 337.5 MW solar park at Rewa, Madhya Pradesh and an 84.5 MW plant at Charanka, Gujarat.
ETMarkets Morning Podcast (ET Online) RBI says soured loans hurting monetary transmission
06:16 Min | December 16, 2020, 8:44 AM IST
Here s a head up to some of the news we are tracking at this hour. Tune in!
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Hi there! Welcome to ETMarkets Morning, the show about money, business and markets. I am Nandini Sanyal, and here is what we have to start your day. Mrs Bectors sets IPO mart on fire M&M unit SsangYong defaults Markets await Fed view if US is headed for double-dip recession
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And there is more. But first, a quick glance at the state of the markets.