The energy firm in sights of a global consortium

News Snapshot:

New Delhi: A consortium comprising the World Bank’s International Finance Corp (IFC), Asian Development Bank (ADB), and Beijing-headquartered Asian Infrastructure Investment Bank (AIIB) is looking to invest around $250 million in renewable energy firm Fourth Partner Energy Pvt. Ltd, two people aware of the development said. The deal involves the sale of private equity firm TPG Capital’s 52% stake in the company, and a fresh equity investment of around $500 million, in a transaction run by Bank of America and Investec. “The deal is expected to be announced shortly, with the valuation likely to be at a nominal premium to...