Actis cancels plan to acquire Essel Infra’s solar project in India
Date
April 17, 2019
Type
M&A Transactions
Subtype
Transaction canceled
Countries
India
Subsectors
Photovoltaic
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Actis LLP, a private equity firm, has cancelled the plan to buy the 685 MW solar portfolio in India. The solar portfolio is owned by Essel Infraprojects Ltd. The deal was supposed to be with an estimated value of USD 658 million.
However, Essel Infra is holding discussions to ACME Solar Holdings Ltd. to sell the assets. Furthermore, ACME hopes to acquire a 25-year concession agreement for a water desalination plant. Essel seeks to close the sale by the end of the 2019.
