KKR’s IndiGrid acquires Virescent for ₹4,000 cr1 min read 12 May 2023, 10:50 PM IST
India Grid Trust, backed by KKR & Co., will acquire all units of KKR-sponsored Virescent Renewable Energy Trust (VRET) for an enterprise value of INR4,000 crore ($544m). VRET is India's first renewable infrastructure investment trust (InvIT). The acquisition includes the investment manager and project manager. KKR had previously planned to sell its 77% stake in VRET with JP Morgan running the sale process. The transaction is subject to requisite regulatory and unitholder approvals.
NEW DELHI : KKR & Co. backed India Grid Trust (IndiGrid), India’s first listed power sector infrastructure investment trust (InvIT), will buy all units of KKR-sponsored Virescent Renewable Energy Trust (VRET) along with the investment manager and project manager, at an enterprise value of ₹4,000 crore.
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