Leading private equity player 3i Group today said it has acquired a minority
stake in Krishnapatanam Port Company (KPCL) for $161 million.
stake in Krishnapatanam Port Company (KPCL) for $161 million.
The investment has been done from the $1.2-billion 3i India infrastructure
fund, which is managed by 3i’s global infrastructure investment team, a release
said.
fund, which is managed by 3i’s global infrastructure investment team, a release
said.
The fund was formed with an aim to invest in major infrastructure projects
in the country and has completed investments in three major projects including
that of KPCL, it said.
in the country and has completed investments in three major projects including
that of KPCL, it said.
KPCL, promoted by Hyderabad-based Navayuga Group, will use the investment
to finance its business expansion plans, it said.
to finance its business expansion plans, it said.
“Krishnapatanam Port Company provides us with an opportunity to invest in a
high quality port asset being developed on the east coast of India,” 3i’s head
of Asia Anil Ahuja said.
high quality port asset being developed on the east coast of India,” 3i’s head
of Asia Anil Ahuja said.
3i closed the India Infrastructure fund in March, 2008.
Source: Livemint
Source: Livemint