Canadian pension fund Caisse de dépôt et Placement du Québec (CDPQ) is in talks with American Tower Corp (ATC) to buy a 50% stake in its Indian unit, The Economic Times reported, citing people with knowledge of the matter.
Both CDPQ and KKR & Co had earlier submitted non-binding bids, but the latter is believed to have gone slow while the Canadian investor has initiated detailed diligence work, said the people cited above. The valuation of the India arm is pegged at $1.5-2 billion, they said.
Singapore’s real estate focussed fund Experion Developers received the highest votes for Blackstone-backed besieged Dignity Buildcon in a deal that would imply a 50% recovery for lenders originally led by Stanchart Bank, according to an application filed by the resolution professional with the bankruptcy court.
Experion Developers offered Rs 450 crore for the real estate developer Dignity Buildcon - a company engaged in developing commercial towers on Golf Course Extension Road of Gurgaon.
The resolution of Dignity Developers, which was mired in a series of litigations, was eventually approved by 99.7% of lenders by value.
Canadian investor Brookfield has entered into exclusive negotiations to invest as much as Rs 3,000 crore (around $363 million) to buy a controlling stake in CleanMax Solar, which provides renewable energy to commercial and industrial establishments, The Economic Times reported, citing two people familiar with the development.
CleanMax is a major supplier of renewable energy to the commercial and industrial (C&I) sector with 1 GW of operating renewable assets including over 600 MW of large-scale solar and wind farms for supplying clean energy to its corporate customers and over 600 installed rooftop solar projects for corporates, with a total rooftop solar operating capacity of more than 350 MW across India, UAE and Thailand.
Omnichannel home interiors and renovation platform Livspace has laid off about 2% of its overall workforce in a bid to drive profitability by the financial year ended March 2024.
The retrenchment has affected 45% of its technology and product teams, three people familiar with the matter told ET.
A total of 36 staffers, including software engineering developers and directors from a team of 80, have been asked to leave the company, these sources said.