KKR’s IndiGrid acquires Virescent for ₹4,000 crNews India (All States)

India Grid Trust, backed by KKR & Co., will acquire all units of KKR-sponsored Virescent Renewable Energy Trust (VRET) for an enterprise value of INR4,000 crore ($544m). VRET is India's first renewable infrastructure investment trust (InvIT). The acquisition includes the investment manager and project manager. KKR had previously planned to sell its 77% stake in VRET with JP Morgan running the sale process. The transaction is subject to requisite regulatory and unitholder approvals.

source https://www.livemint.com/news/india/indigrid-to-acquire-kkr-backed-virescent-renewable-energy-trust-for-4-000-crore-in-india-s-first-renewable-invit-acquisition-11683912044345.html