Energy

Abu Dhabi's Masdar in talks to buy 35% stake in Hero Future, says report

Updated : January 22, 2019 08:43 AM IST

Munjal family's energy arm has been seeking a strategic investor to help expand the company in the global markets, the report said citing unidentified sources.

Along with Masdar, Malaysia's Petroliam Nasional Berhad (Petronas) and Singapore's Sembcorp are also in separate discussions with Hero Future to buy a minority stake, the paper added.

Abu Dhabi's Masdar in talks to buy 35% stake in Hero Future, says report

Abu Dhabi-based Masdar Clean Energy is in talks to buy around 30-35 percent stake in Hero Future Energies for about $300-350 million, The Economic Times reported.

Munjal family's energy arm has been seeking a strategic investor to help expand the company in the global markets, the report said citing unidentified sources.

JP Morgan is advising the company in the stake sale, the paper said.

Along with Masdar, Malaysia'sÂ Petroliam Nasional Berhad (Petronas) and Singapore's Sembcorp are also in separate discussions with Hero Future to buy a minority stake, the paper added.

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