Blackstone completes Monnet deal
The Blackstone Group has executed its plans, first publicized in March this year, to invest around $60 million for 12.5% of Monnet Power Co. Ltd., an Indian independent power producer currently developing at 1050MW coal-fired power plant in Orissa state.
The company is a subsidiary of Monnet Ispat & Energy Ltd., a major iron producer with substantial related interests in both coal mining and power generation. The parent is seeking to raise up to $1.1 billion...
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