Mumbai: Canada’s Brookfield Asset Management Inc. is in talks to buy a majority stake in Hyderabad-based Mytrah Energy as the alternative assets manager looks to make its first renewable investment of more than $1 billion in India, said three people aware of the development.
“Brookfield has been engaged in talks to acquire a majority stake in Mytrah and they are currently conducting due diligence on the company’s portfolio of renewable assets,” the first person cited above said, requesting anonymity.
The stake sale could be valued at more than $1 billion, reaching up to nearly $1.5 billion given the size of Mytrah’s portfolio, he added. Mytrah has a portfolio of around 1.6 GW, the person said.
