CLP India enters agreement with KPTL, Techno for transmission assets' stakes sale
Date
July 30, 2019
Type
M&A Transactions
Subtype
Transaction agreement announced
Countries
India
Subsectors
Ground Transmission
Subscribe to our newsletter and get the latest news and business opportunities in your inbox
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).
