Kalpataru Power acquires majority stake in Swedish engineering company

Kalpataru Power Transmission Limited (KPTL) has signed a definitive agreement to acquire an 85 per cent stake in Swedish firm Linjemontage i Grästorp AB (LMG) for an enterprise value of $24 million (Rs 1.65 billion). The transaction is likely to close in the April-June quarter of 2019-20. The acquisition has been advised by Mumbai-based investment banking firm Singhi Advisors. Grästorp-headquartered LMG, founded in 1993, specialises in power supply solutions and services for electricity networks within the 0.4­400 kV voltage range.

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