Guggenheim, Indian Infrastructure trade stakes
US-based Guggenheim Partners has reportedly taken a 46% stake in infra asset manager Infrastructure India in a deal completed through the exchange of stakes in each other’s portfolio companies.
According to Dow Jones, Guggenheim will take 46% of Infrastructure India's entire group, and Infrastructure India will acquire $192.3 million of Guggenheim's assets, which includes a 50% stake in India Hydropower Development Company and up to 99.99% of Vikram Logistic & Maritime Services. Three of Guggenheim's top executives will also take seats on Infrastructure India's Board. Only $1.5 million is slated to be transacted in cash, the report continued, with the rest of the deal brokered through shares.
According to the firm's website, Guggenheim Partners has more than $100 billion in assets under supervision worldwide, including offices in Hong Kong, Mumbai and Singapore.
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