Sembcorp buys out IDFC PE from renewable energy arm for Rs 14.1 billion

Sembcorp Industries Limited has agreed to buy private equity (PE) firm IDFC Alternatives’ stake in its Indian renewable energy unit. The company’s wholly owned subsidiary Sembcorp Utilities Private Limited will take complete control of Sembcorp Green Infra Limited by acquiring the stake of IDFC Private Equity Fund III for Rs 14.1 billion. The acquisition will be funded through a mix of internal funds and borrowings and is likely to be completed by the first quarter of 2018. Sembcorp already holds a 60 per cent stake in the green energy firm.


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