Brookfield nears deal for Mahindra’s EPC biz, solar units
Canada’s Brookfield Asset Management Inc. has signed an exclusivity agreement to buy Mahindra Susten’s engineering, procurement and construction (EPC) business, besides 1,200 megawatts (MW) of solar assets, at an enterprise value of around ₹5,000 crore, two people aware of the development said.
About half these solar assets are currently under construction, the people cited above said, requesting anonymity. The enterprise value of a firm is calculated on the basis of market capitalization, debt and cash reserves.
Mahindra Susten was earlier running two separate programmes to divest its assets—one comprising the sale of 600MW under-construction solar projects and the EPC business that was managed by EY. Rothschild was handling a separate sale of its operational 600MW solar assets.
