IDFC Alternatives to Partially Exit Green Infra for INR10.6 Billion (Asia)

Source: Sembcorp Industries

Singapore-based energy, water and marine group Sembcorp Industries has signed agreements to acquire a 60 percent stake in India-based renewable energy company Green Infra from India-focused private equity firm IDFC Alternatives for INR10.6 billion (approximately US$170 million). The transaction will be structured through IDFC Private Equity Fund II and IDFC Private Equity Fund III. Post-transaction, IDFC Private Equity Fund III will continue to hold the remaining 40 percent stake in Green Infra. The transaction is expected to be completed by the end of February 2015.