M&As this week: Sichuan Guangan AAA Public, NTPC, AE Industrial Partners
Sichuan Guangan AAA Public intends to sell up to a 70% stake in a wholly-owned power distribution company for a minimum of CNY50.8m ($7.66m) to at least three investors.
The company is engaged in the generation and distribution of electricity, natural gas, and running water.
NTPC shares will be sold by the Indian Government for Rs69.26bn ($1.04bn).
The government reached an agreement to sell up to 412,273,220 shares, which represents an approximate 5% stake of the power generation company. Each share is priced at Rs168 ($2.52), under the offering.
The stake sale will be made under a separate designated window of the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
The government also proposes to sell an additional 412,273,220 shares at a price of Rs168 ($2.52) a share through an oversubscription option.
AE Industrial Partners has completed the acquisition of BHI Energy from the private equity firm Harvest Partners.
BHI Energy undertakes on-site specialty maintenance services and provides staffing solutions to the power-generation industry.
AE Industrial Partners has engaged Kirkland & Ellis as its legal advisor for the transaction, while BHI Energy engaged White and Case as its legal advisor.
Robert W. Baird & Co. and Harris Williams & Co. are the financial advisors for the transaction.
AE Industrial Partners aims to expand its footprint in the US power generation and broader infrastructure markets through the acquisition.