M&As this week: Parsons Corporation, China Power International Development, State Bank of India

13 October 2017 (Last Updated October 13th, 2017 10:28)

Parsons Corporation has acquired US-based Williams Electric Company.

Parsons Corporation has acquired US-based Williams Electric Company.

Parsons expects the acquisition to help it protect critical infrastructure assets and control systems from threats that aim to destroy connected operational technologies.

The target company provides control system integration, electrical and general contracting, and energy infrastructure solutions.

China Power International Development has entered an agreement with China Power International Holding to acquire SPIC Guangdong Power, SPIC Guangxi Power, and China Power (Sihui) Cogeneration Company for RMB4.85bn ($729.15m).

China Power International Development intends to fund the transaction by issuing rights and through internal resources.

“State Bank of India (SBI) has announced its intention to acquire a 51% stake in Essar Power Gujarat.”

The acquisition is expected to aid China Power International to transform into a clean energy company, improve profitability, and strengthen its presence in the regional growth markets.

SPIC Guangdong Power and SPIC Guangxi Power are engaged in developing and operating power generation projects, while China Power (Sihui) Cogeneration is engaged in the construction and operation of two sets of combined cooling, heat and power (CHP) units.

State Bank of India (SBI) has announced its intention to acquire a 51% stake in Essar Power Gujarat from power generation utility Essar Power.

SBI will conduct the acquisition through a consortium.

SBI is a financial services provider, while Essar Power Gujarat is a special purpose vehicle established to develop the 1.2GW Salaya thermal power plant at Vadinar, Gujarat, India.