Industrial Development Bank of India (IDBI) is learnt to be in talks with GE Commercial Finance (GE), the financial arm of GE, to pick up around 25% stake in the latter’s construction equipment finance business in India. Infrastructure Development Finance Company (IDFC) will also hold around 35% stake in it.
Sources close to the development confirmed the move and said GE is all set to hive off its construction equipment finance business into a separate Rs 650-800 crore joint venture company and is in talks with IDFC and IDBI for the same.“Talks were initiated in the beginning of this year but global market slowdown and the current turmoil in the financial services sector led to the delay in the agreement. It may take some time for the final deal to come through,” said a source.
Globally, GE Commercial Finance has assets of over $335 bn. It caters to industries including healthcare, manufacturing, construction, infrastructure and equipment, among others.The company’s real estate portfolio spans across all market segments — from industrial, commercial and office space to residential and recreational developments.
Showing posts with label GE Energy Financial Services. Show all posts
Showing posts with label GE Energy Financial Services. Show all posts
Wednesday, November 12, 2008
Thursday, November 15, 2007
GE Energy takes indirect stake in KSK Power
GE Energy Financial Services has picked up 26% stake in Sayi Power Energy, a majority shareholder in KSK Power. Financial details of the transaction were not disclosed.
"This transaction reinforces GE Energy Financial Services’ growth in India's power market," said Raghuveer Kurada, managing director of GE Energy Financial Services’ India operations. "KSK's pioneering leadership in mid-sized captive power generation and access to dedicated low-cost fuel reserves creates opportunities for sizeable additional investment in new power projects. We will play a strategic role in helping KSK to carry out its growth plans."
KSK, which develops and owns downstream energy assets throughout India, is the country’s first power generation company to be listed overseas - its shares trade on the London Stock Exchange Alternate Investment Market.
KSK's portfolio of existing and future power generation assets is diversified across fuel types. The company has eight projects in operation or under construction representing 875 Mw. KSK’s pipeline of future projects total 3,200 Mw, and is expected to come online by 2012.
"This transaction reinforces GE Energy Financial Services’ growth in India's power market," said Raghuveer Kurada, managing director of GE Energy Financial Services’ India operations. "KSK's pioneering leadership in mid-sized captive power generation and access to dedicated low-cost fuel reserves creates opportunities for sizeable additional investment in new power projects. We will play a strategic role in helping KSK to carry out its growth plans."
KSK, which develops and owns downstream energy assets throughout India, is the country’s first power generation company to be listed overseas - its shares trade on the London Stock Exchange Alternate Investment Market.
KSK's portfolio of existing and future power generation assets is diversified across fuel types. The company has eight projects in operation or under construction representing 875 Mw. KSK’s pipeline of future projects total 3,200 Mw, and is expected to come online by 2012.
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