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Announced

Completed

India Grid Trust completed the acquisition of NER-II Transmission from Sterlite Power for $616m.

Financials

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Transaction Value£441m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Completed

Infrastructure

India

Friendly

Acquisition

Single Bidder

Majority

energy transmission

Electricity Distribution

Private

Domestic

Private Equity

Synopsis

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India Grid Trust, India's first listed power sector infrastructure investment trust, completed the acquisition of NER-II Transmission, a power transmission project, from Sterlite Power, a global developer of electric power transmission infrastructure and electric utilities solutions, for $616m. "We are excited with acquisition of NER-II which is one of the largest acquisitions in Indian power transmission sector in India. NER-II fits well with our strategy of focusing on operating assets with long term cash flows and minimal counter party risk," Harsh Shah, IndiGrid CEO.

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