“India Grid Trust (IndiGrid), an infrastructure investment trust (InvIT) will acquire five electricity transmission assets worth ?11,500 crore ($1.66 billion) from Sterlite Power,” reported Hindu Business Line.
“Global alternative assets giant KKR is moving to acquire a controlling stake in Sterlite Investment Managers Ltd and purchase a sizeable portion of units in India Grid Trust, the infrastructure investment trust (InvIT) comprising power transmission projects. Singaporean sovereign wealth fund GIC is also participating in the multi-layered transaction,” reported VCCircle.
KKR has also applied to become a sponsor of IndiGrid and plans to acquire an additional 15% of IndiGrid’s total units from Sterlite Power.
AZB & Partners and Simpson Thacher & Bartlett acted as
Nishith Desai Associates advised
Cyril Amarchand Mangaldas served as
Khaitan & Co represented the seller
Update 23 January 2020: Nishith Desai Associates advised
Edelweiss and EY acted as Indigrid and KKR’s M&A advisors, respectively.
2019-05-05
Deal value: INR 2514 crores
This deal report is based on a firm's press release and may be only partially complete. Some firms or names of advisers may be therefore be missing.
Update 23 January 2020: Nishith Desai Associates advised
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