BlackRock chairman and CEO Larry Fink is considering an investment of $500-750 million in Tata Power Renewable Energy Ltd (TPREL), The Economic Times reported on Tuesday.
Canadian pension fund CPPIB was another potential investor evaluating the opportunity. “But BlackRock’s chunky valuation of the business-buoyed by a $1 billion investment by TPG Rise in Tata Motors’ electric vehicle business – has made it a stronger contender to be the main anchor investor,” the report said, citing sources. Fink’s backing would value the Tata Power subsidiary at around $5 billion, it said.
Read the full story: The Economic Times.
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