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BlackRock CEO May Invest in Tata Power’s Green Business: ET

BlackRock’s Larry Fink is reportedly considering an investment of $500-750 million in Tata Power Renewable Energy Ltd

People are seen in front of a BlackRock showroom in Davos, Switzerland in Jan 2020. The group is looking to invest in Tata Power. Photo: Arnd Wiegmann, Reuters.


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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Indrajit Basu

Indrajit Basu is an India-based correspondent for Asia Financial and wears two hats: journalist and researcher (equity). Before joining AF he reported on business, finance, technology, wealth management, and current affairs for China Daily, SCMP, UPI, India Today Group, Indian Express Group, and many more. He is also an award-winning researcher. If he didn't have to pay bills, he would be a wanderer.


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