new delhi, April 5 -- A consortium comprising the World Bank's International Finance Corp (IFC), Asian Development Bank (ADB), and Beijing-headquartered Asian Infrastructure Investment Bank (AIIB) is looking to invest around $250 million in renewable energy firm Fourth Partner Energy Pvt. Ltd, (FPEL) two people aware of the development said.
The deal involves the sale of private equity firm TPG Capital's 52% stake in the company, and a fresh equity investment of around $500 million, in a transaction run by Bank of America and Investec.
"The deal is expected to be announced shortly, with the valuation likely to be at a nominal premium to the post-money valuation of the last fundraise from Norfund," said one of the two people cited, above r...