Brookfield India Real Estate Trust, the third such investment vehicle to publicly trade in the South Asian nation, fell on debut as investors fretted about the COVID-19 pandemicâs impact on the realty sector and the asset managerâs growth prospects.
Units of the real estate investment trust backed by Canadaâs Brookfield Asset Management Inc. fell 2.2 per cent from its issue price to 268.93 rupees in Mumbai on Tuesday, compared with a 0.1 per cent dip in the benchmark stock index. The last two REITs Embassy Office Parks and Mindspace Business Parks had gained 5 per cent or more on their first day of trading.
Brookfield, Actis among bidders for Fortum’s India solar assets
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February 15, 2021
Canada’s Brookfield Asset Management Inc., private equity firm Actis Llp and Edelweiss Infrastructure Yield Plus Fund’s Sekura Energy Ltd have offered to buy a majority stake in Finnish state-run power utility Fortum Oyj’s 500 megawatts (MW) solar projects in India in a deal estimated at about half a billion euros, said two people aware of the development.
The three parties have submitted three separate non-binding bids for the deal, which is expected to be completed by March, the people cited above said, requesting anonymity. Kotak Investment Banking is managing the sale process.
Photo: Sungrow EMEA/Unsplash
February 12, 2021
Canada Pension Plan Investment Board (CPPIB) has placed several pre-conditions to acquire Japan’s SoftBank Group Corp.’s controlling stake in SB Energy Holdings for an estimated $520 million, said two people aware of the development.
These pre-conditions, also referred to as condition precedents (CPs), include meeting certain project commissioning deadlines, securing new businesses, achieving land possession from the Andhra Pradesh government and reimbursement of safeguard duty for a project in Rajasthan, the people said, requesting anonymity.
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India’s green energy space has seen plenty of deal activity in recent years. Here’s a look at the top five deals
Securing new biz among CPPIB’s pre-conditions for SB Energy deal
The latest valuation of SB Energy is less than the one expected by the sector given SoftBank had invested more than $800 million in the business in the past five yearsPremium
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Canada Pension Plan Investment Board (CPPIB) has placed several pre-conditions to acquire Japan’s SoftBank Group Corp.’s controlling stake in SB Energy Holdings for an estimated $520 million, said two people aware of the development.
These pre-conditions, also referred to as condition precedents (CPs), include meeting certain project commissioning deadlines, securing new businesses, achieving land possession from the Andhra Pradesh government and reimbursement of safeguard duty for a project in Rajasthan, the people said, requesting anonymity.
Canada's Brookfield Asset Management Inc is aiming to take Clarios public that could value the car battery maker at $20 billion, Bloomberg News reported on Wednesday, citing people familiar with the matter.