Billionaire Gautam Adani-controlled Adani Group is in the fray to acquire the Indian renewable assets of Singapore-based Equis Energy, The Economic Times reported citing people aware of the development.
Adani Group has joined forces with Doha-based Nebras Power, which is looking to buy Equis' assets in the Philippines, Japan, Thailand, Indonesia and Australia.
Equis Energy’s entire renewable energy portfolio, valued at about $5 billion, is up for sale, the report added. The enterprise value of the Indian assets is Rs 5,500-6,000 crore ($845-920 million), or about Rs 8 crore per megawatt.
Mumbai-based polyester maker JBF Industries Ltd is in talks with Indorama group, Reliance Industries Ltd and The Chatterjee Group for a stake sale, Mint reported citing two people aware of the development. The sale could result in a change of management control at the debt-laden firm.
As on 30 September 2017, private equity major KKR held a 20% stake in the company. KKR is actively participating in the talks to find a buyer for the company, the report added.
Established in 1982, JBF Industries makes partially-oriented yarn, polyester films and chips, which are used in the fast-moving consumer goods, textile and packaging industries. The company got listed in 1986.
In August, Reuters reported that JBF RAK, the UAE subsidiary of JBF Industries, was in talks to sell its plant in Belgium for up to €250 million ($298 million) to pare debt.
Punjab-based Capital Small Finance Bank, formerly Capital Local Area Bank, has received Rs 24.35 crore ($3.75 million) from the Small Industries Development Bank of India (SIDBI) and existing investors in its latest round of fund-raising, Mint reported.
SIDBI made an equity investment of Rs 22 crore ($3.38 million), the report said.
The 16-year-old firm was among the 10 entities to receive the Reserve Bank of India's in-principle approval for running a small finance bank in September 2015. It was the first to start small finance bank operations in April 2016. Leave Your Comment