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Resolut Partners, a Mumbai-based law firm that specializes in complex cross-border PE/M&A transactions has advised GIC Singapore on the set-up of its USD 2 billion (Rs 16,000 crore) majority owned smart meter platform in Singapore with a leading meter manufacturer, Genus Power Infrastructures Limited….
Genus Power Infrastructure has announced that GIC, Singapore’s sovereign wealth fund, will acquire a 74% stake in its new smart metering solutions venture for $2 billion. According to the press release, Gem View Investment, an affiliate of GIC, will hold a majority stake of 74% and will have controlling rights in the platform. Genus Power & Infrastructure will retain the remaining 26% stake….
Resolüt Partners, a Mumbai-based law firm that specializes in complex cross-border PE/M&A transactions has advised GIC Singapore (“GIC”) on the set-up of its $2 billion (Rs 16,000 cr) majority owned smart meter platform (“Platform”) in Singapore with a leading meter manufacturer, Genus Power Infrastructures Limited (“Genus”)…
GIC will also invest USD 63.3 Mn (INR 519 cr) for acquisition of warrants convertible into a 15% stake in Genus. This is one of the few deals where a sovereign wealth fund or a pension fund has taken such a substantial majority stake in Indian assets, a reaffirmation of India’s emergence as the preferred investment destination, and importantly, of the Indian infrastructure story.
Genus Power & Infrastructures Ltd (“Genus”) has announced the signing of definitive agreements with Gem View Investment Pte Ltd, an affiliate of GIC, Singapore (“GIC”) for:
(i) Setting up of a Platform (“Platform”) for undertaking Advanced Metering Infrastructure Service Provider (“AMISP”) concessions. GIC will hold 74% (seventy four percent) stake while Genus will hold 26% (twenty six percent) stake in the Platform…