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Kalpataru completes acquisition of 51 pc stake in Fasttel

Kalpataru Power Transmission Ltd arm completes acquisition of Fasttel Engenharia Ltda, a Brazilian EPC Company

Kalpataru Power completes acquisition of 51 pc stake in Brazil's Fasttel

Both companies will leverage each other s capabilities to expand presence in Latin American T&D market. 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.

Kalpataru Power Transmissions Ltd.: Kalpataru Power Transmission arm to acquire 51% stake in Brazil's Fasttel Engenharia

Explore 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.