18.08.2015 - Greenko to sell Indian assets to Singapore wealth fund GIC
Renewable energy firm Greenko Group has agreed to sell its Indian assets and trading activities to Singapore sovereign wealth fund GIC for £162.8m. The parties have signed non-binding heads of terms, which will see Greenko divest its shares in Greenko Mauritius. The transaction, which includes the rights to several clean energy projects in India, would releive Greenko from all related financial liabilities. Greenko and GIC are currently in an advanced stage of negotiations. The disposal will be subject to a legally binding agreement. Greenko aims to distribute the proceeds from the sale, net of certain Indian taxation, transaction fees and running costs, to its own shareholders...............................................Full Article: Source
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