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CDPQ buys add'l 10% in Mumbai-based Apraava Energy at Rs 660 cr deal value

With this, the Canadian pension fund's stake in the firm goes up to 50%

M&A, mergers & acquisitions, merger, partnerships, Joint venture, JV
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The company, formerly called CLP India, will become a 50:50 joint venture with the deal, CLP said in a notification to the Hong Kong Stock Exchange on Tuesday

BS Reporter Mumbai
Canadian pension fund CDPQ has increased its stake in Mumbai-based Apraava Energy to 50 per cent by acquiring an additional 10 per cent stake from shareholder CLP for Rs 660 crore.

The company, formerly called CLP India, will become a 50:50 joint venture with the deal, CLP said in a notification to the Hong Kong Stock Exchange on Tuesday.

CDPQ had acquired 40 per cent stake in Apraava in 2018 for Rs 2,645 crore, with CLP (formerly China Light & Power) retaining 60 per cent stake back then. The Hong-Kong-listed CLP Holdings is amongst the largest foreign investors in