Market Chatter: TPG-Led Investment Group to Acquire Indian Climate Lender Aseem Infrastructure Finance

MT Newswires Live04-24 17:06

An investment group led by TPG (TPG) reached a definitive deal to acquire Aseem Infrastructure Finance, an Indian non-bank lender focused on environmental projects, for roughly 40 billion Indian Rupees ($424.2 million), Bloomberg News reported Friday, citing people familiar with the matter.

The buyers, which include GIC and ICICI Bank (IBN), intend to fold the target business into a freshly formed joint enterprise to capture opportunities within the nation's growing clean energy market, the news outlet reported.

The coalition plans to supply a combined 60 billion rupees to capitalize the new financing unit, with ICICI Bank expected to retain a roughly 5% ownership interest, according to the report.

Once its staff is fully assembled, the operations will be handled by Manish Chourasia, who was previously with Tata Cleantech Capital, Bloomberg reported, citing the sources.

TPG, GIC, ICICI Bank, and Aseem Infrastructure Finance did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment