Brookfield-Kotak bid for Jaypee’s power assets

Brookfield Asset Management, Inc. and the Kotak Mahindra Group have jointly bid for Jaypee Power Ventures Limited’s assets aggregating 2,200 MW. If the deal concludes, it is expected to close at an equity value of Rs 35 billion-Rs 40 billion. Reportedly, Brookfield will own 90 per cent of the assets while the remaining will be held by the Kotak Mahindra Group. These assets are a part of the strategic debt restructuring of the company.