Kalpataru Power Transmission’s (KPTL) wholly owned subsidiary in Brazil namely Kalpataru Power DO Brasil Participacoes has signed definitive agreement to acquire controlling stake of 51% in Fasttel Engenharia, Brazil (Fasttel) for $8.80 Million, subject to customary adjustments.
The acquisition of Fasttel is in line with KPTL’s strategy to strengthen its core EPC business and have greater geographical presence in stable and growing markets. The transaction is likely to close by end of Q1FY22.
Kalpataru Power Transmission is one of the largest and fastest growing specialized EPC companies in India engaged in power transmission & distribution, oil & gas pipeline, railways, infrastructure development, civil contracting and warehousing & logistics business with a strong international presence in power transmission & distribution.
