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Kalpataru Power completes acquisition of 51 pc stake in Brazil s Fasttel ANI | Updated: Apr 08, 2021 12:56 IST
Mumbai (Maharashtra) [India], April 8 (ANI): Kalpataru Power Transmission Ltd s (KPTL s) wholly-owned subsidiary in Brazil has completed acquisition of 51 per cent controlling stake in Fasttel Engenharia Ltda.
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. Kalpataru Power Do Brasil Participacoes Ltda, Brazil, a wholly-owned subsidiary of the company, has completed the acquisition of 51 per cent stake in Fasttel along with management control on 7th April, 2021, KPTL said in regualtory filings at stock exchanges on Thursday.
United-statesMumbaiMaharashtraIndiaBrazilAmericanFasttel-engenharia-ltdaSanjay-dalmiaBrasil-participacoes-ltdaKalpataru-power-transmission-ltdFasttel-engenhariaPower-do-brasil-participacoes-ltdaExplore Now
NEW DELHI: Kalpataru Power Transmission Ltd (KPTL) on Friday said its wholly owned subsidiary in Brazil has signed a definitive agreement to acquire 51 per cent stake in Fasttel Engenharia Ltd in the South American country, for USD 8.80 million (over Rs 64 crore). Kalpataru Power do Brasil Participacoes Ltda has signed a definitive agreement to acquire a controlling stake of 51 per cent in Fasttel Engenharia Ltda,Brazil for USD 8.80 million, subject to customary adjustments, Kalpataru Power Transmission Ltd said in a regulatory filing. Fasttel, founded in 1988, specialises in engineering, procurement, and construction (EPC) and maintenance of power transmission lines, substation and distribution systems across various voltage range up to 750 kV, the company added.
United-statesBrazilAmericanFasttel-engenharia-ltdaSanjay-dalmiaBrasil-participacoes-ltdaFasttel-engenharia-ltdKalpataru-power-transmission-ltdSouth-americanPower-transmission-ltdExecutive-directorLatin-american