3 cos eye Fortum EV charging biz in India
New Delhi, May 1 -- Finnish state-run energy power utility Fortum Oyj has zeroed in on three potential suitors-Adani TotalEnergies E-mobility Ltd (ATEL), Reliance BP Mobility Ltd (Jio-bp) and Gurugram-headquartered electric bus manufacturer JBM Group- to offload a majority stake in its electric vehicle (EV) charging network business in India, two people aware of the development said.
"Adani TotalEnergies, Jio-bp and JBM Group have signed NDAs (non-disclosure agreements) and are evaluating the deal, post which bids will be submitted," one of the two people cited above said, requesting anonymity.
London-based Opus Corporate Finance Llp is running the transaction (termed Butterfly) for the EV chargingbusinessGLIDA, formerly known as Fortum Cha...
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