TNB COM­PLETES PUR­CHASE OF IN­DIAN POWER PRO­DUCER

The Sun (Malaysia) - - SUNBIZ -

PETALING JAYA: Te­naga Na­sional Bhd (TNB) has com­pleted the pur­chase of a 30% stake in In­dian power com­pany GMR En­ergy Ltd for US$300 mil­lion (RM1.2 bil­lion). The ac­qui­si­tion was done through its wholly-owned sub­sidiary Power and En­ergy In­ter­na­tional (Mau­ri­tius) Ltd. TNB said the com­ple­tion of the trans­ac­tion marks its en­try into In­dia’s rapidly ex­pand­ing power sec­tor and ce­ments a strate­gic in­vest­ment in­GMR En­ergy, which has a port­fo­lio of five op­er­a­tional power as­sets in In­dia com­pris­ing coal, gas and re­new­able en­ergy with a com­bined ca­pac­ity of 4,630MW.

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