The Canada Pension Plan Investment Board (CPPIB), Malaysian state-run Petronas and Arcelormittal SA are among the 13 bidders for a minority stake in the green energy unit of India’s NTPC Ltd, a company official said on Thursday.
NTPC, the country’s largest utility, anticipates the private placement will initially raise 20 billion rupees ($251-million) and will be followed eventually by a spin-off of the green energy unit as a separate India-listed entity, the official said.
CPPIB, Petronas and Arcelormittal were not immediately available for comment.
The NTPC official was not authorised to speak to the press on this issue and could not be named.
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