TPG is in talks to acquire the Indian wind energy assets of Siemens Energy’s Gamesa unit, while the Hinduja Group is in talks with a host of investors to raise funding.
Deal may value Siemens Gamesa’s India assets at over $300m
Private equity behemoth TPG is in talks to acquire the Indian wind energy assets of Siemens Energy AG’s Gamesa unit, stated a Bloomberg report.
The transaction, if it goes through, will peg the valuation of Siemens Gamesa India’s assets at over $300 million, the report further stated quoting sources.
Siemens Gamesa has been exploring a sale of its Indian assets for quite a while now. According to media reports, JSW Energy and Inox Wind had also evinced interest, alongside TPG.
Earlier this year, Siemens Energy AG made headlines when it initiated the sale of its Indian wind turbine business as part of its strategic move to address losses and look for profitability instead.
Hindujas on road to raise $524m in second tranche
The Hinduja Group is in talks with a host of investors to raise the second tranche of the Rs 4,300 crore (approximately $524 million) corpus as it looks to fund the acquisition of Anil Ambani’s financial services company Reliance Capital through the ongoing insolvency resolution process, per a report by The Economic Times.
In the first tranche, The Hinduja Group raised about Rs 3,000 crore from Barclays and 360 One in September.
The Hinduja Group came up with a Rs 9,650-crore resolution plan for Reliance Capital, which was approved by creditors in July 2023. The group is now using a mix of equity and debt financing to fund the transaction.
