KPTL to acquire 51% stake in Brazil’s Fasttel Engenharia
Kalpataru Power Transmission Ltd (KPTL) on Friday said its wholly owned subsidiary in Brazil has signed a definitive agreement to acquire 51 per cent stake in Fasttel Engenharia Ltd in the South American country, for USD 8.80 million (over ₹64 crore).
“Kalpataru Power do Brasil Participações Ltda has signed a definitive agreement to acquire a controlling stake of 51 per cent in Fasttel Engenharia Ltda,Brazil for USD 8.80 million, subject to customary adjustments,” Kalpataru Power Transmission Ltd said in a regulatory filing.
Fasttel, founded in 1988, specialises in engineering, procurement, and construction (EPC) and maintenance of power transmission lines, substation and distribution systems across various voltage range up to 750 kV, the company added.
