Sale process for assets in the areas of education, funds, domestic roads, thermal power, water infrastructure, technology and key international assets is currently underway and binding financial bids are expected for these businesses in stages by July 2019, the group said. Japan's Orix Corporation plans to buy the remaining shares in a portfolio of wind farms it co-owns with IL&FS Wind Energy in India. The deal is expected to be announced on Monday and will add about 10 gigawatts (GW) of new capacity over the next five years, according to Reuters. Orix holds a 49% stake in each project. IL&FS, which is suffering from debt-related financial difficulties, initiated the sale of its controlling shares in November. GAIL emerged as the winning bidder, but Orix decided to exercise its right to purchase the assets by matching its bid. The deal should be completed by the end of June, subject to regulatory approval.
Japan's Orix Corporation plans to buy the remaining shares in a portfolio of wind farms it co-owns with IL&FS Wind Energy in India. The deal is expected to be announced on Monday and will add about 10 gigawatts (GW) of new capacity over the next five years, according to Reuters. Orix holds a 49% stake in each project. IL&FS, which is suffering from debt-related financial difficulties, initiated the sale of its controlling shares in November. GAIL emerged as the winning bidder, but Orix decided to exercise its right to purchase the assets by matching its bid. The deal should be completed by the end of June, subject to regulatory approval.