Sembcorp signs agreement to increase stake in Sembcorp Energy India to 100%

摘要

Sembcorp Industries (Sembcorp) announces that its wholly-owned subsidiary Sembcorp Utilities has signed an agreement with its local partner, Gayatri Energy Ventures Pte Ltd (GEVPL), a wholly owned subsidiary of Gayatri Projects Limited (GPL), to acquire the remaining 5.95 per cent stake in Sembcorp Energy India Limited (SEIL). Neil McGregor, Group President & CEO of Sembcorp Industries, said, "Since Sembcorp's entry into the fast-growing Indian energy market in 2010, Gayatri has been a valuable partner in our journey to become an established energy player with a strong track record in delivering commitments. This acquisition will give Sembcorp full flexibility to evaluate and pursue an exciting range of growth opportunities in the renewables segment, while at the same time seeking the right equity window to list our India business or to pursue other capital recycling options."