Private Equity

PE Fund Investments

Brookfield eyes significant stake in Mahindra Susten assets

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Canada's Brookfield Asset Management Inc is looking to buy a substantial stake in Mahindra Susten. Avendus Capital is running the sales process for the potential deal that values Mahindra Susten at an enterprise and equity value of around INR 7,000 crore and INR 1,700 crore, respectively. Mahindra Susten has a growing engineering, procurement and construction (EPC) business, besides 1.5 GW of solar assets. It builds and sells solar power projects and also offers diversified services in the renewable energy and cleantech space. The sale process saw participation from companies including Torrent Power, European alternative asset manager EQT and Temasek backed O2 Power, and Amplus Energy; and follows an earlier bid by Brookfield to buy Mahindra Susten.