Infrastructure India wraps up Indian Energy acquisition
Oct 5, 2011 - Investment group Infrastructure India Plc (LON:IIP) has finalised the acquisition of British wind power plants developer Indian Energy (LON:IEL), valuing the company at USD 13 million (EUR 9.8m).
Under the terms of the share-swap transaction, Infrastructure India offered 100 of its stock for every 259 shares owned by Indian Energy shareholders.
Indian Energy has a 24.8-MW wind power facility in India's state of Karnataka and a 16.5-MW plant in the state of Tamil Nadu. The company turned to positive earnings before interest, tax, depreciation and amortisation (EBITDA) of GBP 660,000 (USD 1m/EUR 766,000) in fiscal 2010/11 ended March 31.