Essar Plans London Listing for Power Business

7 March 2010 (Last Updated March 7th, 2010 18:30)

Indian conglomerate Essar Group plans to raise up to $3bn by listing its energy and power businesses on the London bourse next month. The company plans to sell a 20% stake in the operations, a source close to the deal has told Reuters. The company will enlist JPMorgan Cazenove

Indian conglomerate Essar Group plans to raise up to $3bn by listing its energy and power businesses on the London bourse next month.

The company plans to sell a 20% stake in the operations, a source close to the deal has told Reuters.

The company will enlist JPMorgan Cazenove and Deutsche Bank to handle the deal, according to the source.