Olympus Capital commits $300 million to Tata Power
Olympus Capital Holdings Asia is to buy stakes in Tata Power’s coal special purpose vehicles (SPVs) Bhira Investment Ltd. and Bhivpuri Investment Ltd. for $300 million – capital that will be allocated to fund the Indian power producer’s future acquisitions and investments as well as minimizing its debt.
As part of the deal, the PE firm will take a 14-15% stake in the SPVs, issued through fresh shares with differential rights. Both SPVs hold their interests in Indonesian coal mines Kaltim Prima Coal (KPC)...
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