UPDATE 2-Qatar wealth fund to invest $450 mln in Adani power distribution arm - Reuters:
Qatar’s sovereign wealth fund will invest about $450 million in a power distribution company controlled by Indian billionaire Gautam Adani, the latest in a series of foreign investments in India’s energy sector.
The Qatar Investment Authority (QIA) will buy a 25.1% stake in Adani Electricity Mumbai Ltd (AEML) in a deal that will also include subordinated loans, the two sides said on Wednesday.
This is the second big investment in an Adani Group company after France’s Total SA decided to buy a stake in gas distribution company Adani Gas in October.
AEML is India’s largest private sector power distribution utility, according to its website, serving more than 3 million consumers in India’s financial capital of Mumbai and supplying more than half of the city’s electricity.
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