Singapore’s Sembcorp to buy out Gayatri Projects‘ stake in Sembcorp Energy India

Sembcorp Industries Limited, a Singapore-based utilities and marine group, has agreed to acquire the stake it does not own in Sembcorp Energy India Limited from Gayatri Energy Ventures. The Singapore company will become the sole owner of Sembcorp Energy after buying Gayatri Energy’s 5.95 per cent stake. Sembcorp, through its subsidiary Sembcorp Utilities, will buy the stake for around Rs 4.06 billion ($56.95 million). It will finance the acquisition through a mixture of internal funds and borrowings.