American International Group's (AIG) private equity arm AIG Global Investments is set to buy a minority stake in India's Avasarala Technologies for 20 mln usd, reported the Economic Times, citing Avasarala.
Avasarala Technologies, a company worth 2 bln rupees, manufactures components for nuclear reactors used in the generation of electricity, the paper said.
The report cited Avasarala managing director TT Mani as saying: 'We are in talks for an investment, but it will be a week before something is finalised. We will need the capital to grow our nuclear and space divisions.'
Source : Forbes