Mumbai (Maharashtra) [India], February 5 (ANI): Kalpataru Power Transmission Ltd (KPTL) said on Friday that its wholly-owned subsidiary in Brazil has signed a definitive agreement to acquire controlling stake of 51 per cent in Fasttel Engenharia Ltda for 8.8 million dollars (about Rs 64 crore).
Founded in 1988 Fasttel specialises in engineering, procurement and construction (EPC) and maintenance of power transmission lines, sub-station and distribution systems across various voltage range up to 750 kilovolts.
The company had revenue of 47 million dollars (about Rs 343 crore) last year and has an order book of 95 million dollars (about Rs 693 crore). The transaction is likely to close by end of Q1 FY22.