 "solar power, renewable energy")
Singapore-based Sembcorp Industries (Sembcorp) has said it would acquire IDFC’s stake in Sembcorp Green Infra (SGI) in a Rs 1,410.2-crore deal, or for approximately $301 million. Its wholly-owned subsidiary, Sembcorp Utilities, has entered into an agreement to acquire IDFC Private Equity Fund III’s remaining 28 per cent stake in SGI. With this, Sembcorp would become the sole owner of SGI.
“Pursuant to the prevailing shareholders’ agreement between the parties, Sembcorp Utilities has exercised its contractual right to acquire IDFC’s remaining shares in SGI. The consideration for the acquisition was agreed between the parties based on, amongst others, comparable market valuations, and
