A slew of global asset managers are in the race to invest in Mahindra Susten’s renewable infrastructure investment trust. Separately, Bodhi Tree Systems has paid Rs 953.23 crore to purchase an additional 2.89% stake in Viacom18.
APG, IFC & AIIB in race to invest $250m in Mahindra InvIT
Dutch pension fund APG Asset Management, the World Bank’s investment arm International Finance Corp (IFC), and Asian Infrastructure Investment Bank (AIIB) are in a race to invest up to $250 million in Mahindra Susten’s renewable infrastructure investment trust (InvIT), The Economic Times reported on Tuesday.
Mahindra Susten’s businesses include the Mahindra Group’s renewable-focussed engineering, procurement, and construction (EPC) unit (with more than 4 GW of capacity constructed) as well as an independent power production (IPP) unit with around 1.54 GW of operational solar plants. The entire 1.54 GW will be transferred to the InvIT.
The deal is likely to close in the next two to three months.
Susten will, later on, bring in a few domestic investors such as mutual funds or family offices with small cheques to meet the minimum shareholder requirements, the report said.
Bodhi Tree buys 2.89% more in Viacom18 for $115m
Uday Shankar and James Murdoch-promoted Bodhi Tree Systems has paid Rs 953.23 crore ($115 million) to purchase an additional 2.89% stake in Viacom18, The Economic Times reported on Tuesday.
The company bought the additional stake from Reliance Industries Ltd (RIL), the majority shareholder in the company.
The transaction valued Viacom18 at Rs 32,983 crore. Bodhi Tree’s holding in Viacom18 has increased to 15.97% following the latest stake acquisition. In April, it acquired a 13.08% stake in Viacom18 for Rs 4,306 crore.
The stake acquisition was financed through the $150 million that Bodhi Tree raised from Comcast Corp-owned NBC Universal and global alternative asset manager Tikehau Capital.
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