Mumbai-headquartered engineering and construction company Kalpataru Power Transmission is in pact to buy 85% in Swedish powers solutions and systems company Linjemontage i Grastorp AB, with aim to expand in European market, the company’s Executive Director Sanjay Dalmia told ET.
Kalpataru Power’s subsidiary in Sweden, Kalpataru Power Transmission Sweden AB, will buy the 85% stake for an enterprise value of $ 24 million (Rs 165 crore). It has the right to acquire the balance 15% stake later.
“We have been active other overseas markets but not in Europe because we were not qualified. This acquisition will give us the qualification required to participate in projects in Sweden and other Scandinavian countries,” Dalmia said.
