Kalpataru Power’s Swedish arm completes the acquisition of 15% of the shares in Linjemontage Grastrop; the stock jumps ~ 1%
Kalpataru Power Transmission Limited announced that Kalpataru Power Transmission Sweden AB (KPT Sweden), its wholly owned subsidiary in Sweden, has completed the acquisition of the remaining 15% of the shares in Linjemontage i Grastrop AB, a Swedish EPC company headquartered in Grastrop, Sweden . LMG also has two wholly owned subsidiaries.
The company completed the acquisition of the remaining 15% on July 7, 2022.
The estimated purchase price for the 15% stake will be approximately USD 11.5 million (approximately Rs 91.13 crore).
The company will acquire 300 shares corresponding to 15% of the share capital in LMG through its WOS KPT Sweden.
LMG, which was founded on March 22, 1993, is involved in three major business areas: EPC for substations, transmission and distribution networks and O&M for grid services in the voltage range 0.4 – 400 kV.
LMG has (together with its wholly owned subsidiary) a presence in Sweden and Norway, with an order book of approximately SEK 1.31 billion (USD 137.88 million).
The acquisition will strengthen KPT’s position in the Nordic market. As they have the oldest network, Sweden and Norway are very attractive markets for transmission line infrastructure. KPTL will benefit from increased investments in grid infrastructure and renewable energy in the Nordic markets.
Around 11.17, Kalpataru Power traded for Rs 362.20 up Rs 4.45 or 1.24% from its previous close of Rs 357.75 on BSE. The slip opened at 360 Rs and has reached highs and lows during the day of 371.45 and 359 Rs respectively.