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Home News PFC led lenders, PE seize control of Kasliwal’s Hydel Project

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PFC led lenders, PE seize control of Kasliwal’s Hydel Project

PFC led lenders, PE seize control of Kasliwal’s Hydel Project

Thursday, March 30, 2017, 10:23 AM

Lenders led by Power Finance Corporation (PFC) and private equity firm Guggenheim Partners have seized control of Mukul Kasliwal’s 400 MW Shree Maheshwar Hydel Power Project on the Narmada river after the company defaulted on its loans. Lenders now own close to 58% equity stake and Guggenheim 32%, reducing Kasliwal to a minority shareholder with 10% stake.
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