Abu Dhabi-based Masdar Clean Energy is in talks to buy around 30-35 percent stake in Hero Future Energies for about $300-350 million, The Economic Times reported.
Munjal family's energy arm has been seeking a strategic investor to help expand the company in the global markets, the report said citing unidentified sources.
JP Morgan is advising the company in the stake sale, the paper said.
Along with Masdar, Malaysia's Petroliam Nasional Berhad (Petronas) and Singapore's Sembcorp are also in separate discussions with Hero Future to buy a minority stake, the paper added.
(Picture for representational purposes only)
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First Published: Jan 22, 2019 8:42 AM IST
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