M&A M&A
SEPC to acquire 90% stake in Abu Dhabi-based consulting co. Avenir in Rs.1,530-Cr deal
Source Avenir (opens in a new tab)Business Line (opens in a new tab)NSE announcement (opens in a new tab)
Publicly listed, Chennai-based SEPC is to acquire a 90% equity stake in Abu Dhabi-based Avenir International Engineers and Consultants . The transaction will be executed through a share swap agreement, involving the preferential allotment of 153 crore equity shares of SEPC to the shareholders of Avenir at an issue price of INR 10 per share, totalling INR 1,530 crore.Founded in 2007, Avenir is a multidisciplinary engineering and consulting company with a global presence. It provides engineering and design services for the oil, gas, and civil infrastructure sectors.SEPC Ltd (formerly Shriram EPC Ltd) offers turnkey solutions across the water & wastewater, roads, industrial infrastructure, and mining sectors.