CLP India enters agreement with KPTL, Techno for transmission assets' stakes sale
Canada's institutional fund manager CDPQ's arm CLP India has entered into an agreement with Kalpataru Power Transmission (KPTL) and Techno Electric & Engineering Company Ltd (Techno) for the sale of stakes in three power transmission assets for INR32.75 billion (US$474.52 million).
The transmission assets are the Kalpataru Satpura Transco Pvt Ltd (KSTPL), Alipurduar Transmission Ltd (ATL) and Kohima Mariani Transmission Ltd (KMTL). Techno owns 26% stake in KMTL.
The deal is subject to pending approvals.
Ernst & Young (EY) and Khaitan & Co. are advisors to KPTL and Techno for this transaction.
CLP India is owned by CLP Group, one of the largest investor-owned power businesses in Asia, and Caisse de dpt et placement du Qubec (CDPQ).
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