Abu Dhabi’s Masdar Obtains Stake in Hero Future Energies for $150 Million
Post the deal, Masdar will possess 20% stake, IFC will own 27% stake while the rest will be held by promoters. International Finance Corp (IFC), the private sector investment arm of World Bank, capitalized $125 million in Hero Future in 2017
October 03, 2019. By News Bureau
Making its entry into renewable energy space in India, Abu Dhabi government-owned energy company Masdar Clean Energy is all set to obtain about 20% stake in Hero Future Energies for $150 million, said two people aware of the development.
Post the deal, Masdar will possess 20% stake, IFC will own 27% stake while the rest will be held by promoters. International Finance Corp (IFC), the private sector investment arm of World Bank, capitalized $125 million in Hero Future in 2017.
Masdar is counselled by BNP Paribas while JP Morgan guided Hero Future in the stake sale process. The deal will be signed by this week, said one of the persons cited above. Abu Dhabi’s Masdar Clean Energy has entered into exclusive talks to acquire a minority stake in Hero Future Energies.
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