KKR in talks to raise stake in Indian power company
KKR is to purchase an 11% stake in Avantha Power & Infrastructure for $75 million, taking its total holding in the Indian company to just over 20%. A senior official with the company told the Economic Times that the two parties were in advanced discussions and a deal is likely to be concluded by the end of June or early July. Spokespeople for Avantha Power and KKR both declined to comment.
KKR spent $50 million on a 9% stake in Avantha Power in October 2010. The company planned to raise INR1,100 crore ($246 million) in a listing earlier this year, but was forced to shelve the IPO due to...
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