Nagarjuna Construction Co Ltd is selling 49% stake in its thermal power subsidiary 
NCC Power Projects Limited to Malaysia's Genting Group.
Hyderabad based-Nagarjuna Construction Co is exiting some of its non-core businesses and this stake sale is a part of that strategy. It is also looking to exit airport and seaports businesses.
NCC Power Projects Ltd is a step down subsidiary of Nagarjuna Constructions through NCC Infra Holdings Limited. NCC Infra has five projects in roads and three in power sector and will bid for more projects in both sectors.
Transaction Reference: Mint
Nagarjuna Constructions is planning a public offer of NCC Infra in the next two years and is also talking to PE funds to raise project level as well as entity level funding.
Its current hydro-power projects include a 100MW project through a 67% stake in a SPV - Himachal Sorang Power Projects Pvt. Ltd. The balance 33% stake in the power project is with Maytas Infra Ltd.
It also has a 280MW hydro power project through a 65% stake in another subsidiary - Himalayan Green Power Limited. The balance 35% stake is with Snowy Mountains Engineering Corp.
| |
4126
3836
944
4256
972
|
|
17633
42
1639
25439
3002
|
|
1343
458
3139
32625
140
|
|
24534
|
|
KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
| 19/01/11 |
NCC Power - Gayatri Projects |
M&A |
Gayatri Energy Ventures Limited |
220.00 |
| 23/07/10 |
NCC Power-Genting Group |
M&A |
Genting Group |
- |
| Date | Type | Buyer | Target | Size ($mn) | State |
| 02/05/12 |
Private Equity |
Looking For |
Husk Power Systems Private Limited |
- |
Announced |
| 28/03/12 |
M&A |
STEAG GmBH |
Hinduja National Power Corp. Limited |
- |
Announced |
| 22/03/12 |
M&A |
Korea Electric PowerCorp |
Pioneer Gas Power Limited |
98.37 |
Announced |
| 24/02/12 |
M&A |
Tecpro Systems Limited |
Eversun Energy Private Limited |
- |
Completed |
Company |
| Name | Promoters | Office | Competitor | Website |
| NCC Infrastructure Holdings Limited |
NCC Limited (Nagarjuna Construction Company Limited) |
41 Nagarjuna Hills, Punjagutta, Hyderabad-500082. Andhra Pradesh, India. |
|
www.nccinfra.com |
| NCC Power Projects Limited |
NCC Limited (Nagarjuna Construction Company Limited) |
41 Nagarjuna Hills, Punjagutta, Hyderabad-500082. Andhra Pradesh, India. |
|
www.nccinfra.com |
