Caisse de dépôt signs an agreement for the 40% interest acquisition in CLP India

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Caisse de dépôt et placement du Québec (CDPQ) has signed a conditional sale and purchase agreement CLP GPEC (Mauritius) Holdings Limited (CLP GPEC), a wholly-owned subsidiary of CLP Group, for the acquisition of the 40% interest in CLP India Private Limited (CLP India). CLP GPEC will maintain the remaining majority 60% shareholding in CLP India. 

CLP and CDPQ are aligned on the growth strategy for CLP India. It is envisaged that with both shareholders’ strategic backing and financial support, CLP India will be able to pursue a faster path of growth to a long-term sustainable business with a larger and more diversified portfolio.

Under the transaction, CLP GPEC will transfer to CDPQ a 40% shareholding in its wholly-owned subsidiary CLP India for a cash consideration of INR26.4 billion (about HK$2.9 billion at current exchange rate).

Completion of the transaction is subject to the fulfilment of various conditions precedent including regulatory approvals

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