Blackstone closes in on its third Indian power sector deal in 15 months
Blackstone Group has signed a definitive agreement to pay INR500 crore ($111 million) for an approximate 25.2% stake in the power generation arm of Kolkata-based conglomerate Visa Group. It is the private equity firm’s third investment in India’s power generation sector, taking its expenditure to almost $500 million in 15 months, The Times of India reported, citing sources familiar with the situation.
Visa Power's core asset is a 1,200 MW coal-fired plant in Chhattisgarh. It also has 6,600 MW of capacity under development, including a 1,320 MW coal-based super critical plant in Orissa. Blackstone's...
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