SREI Infrastructure offloads 38% stake in Quippo Prakash

SREI Infrastructure Finance has offloaded its 38 percent stake in the derrik lay barge Quippo Prakash. The company has sold the same to a Malaysian firm SapuraKencana for a consideration of $122 million which includes returns on both sales of equity shares as well as repayment of a loan from Quippo.

The investment in the barge was made in 2008, at a time when the downturn in the offshore markets allowed Quippo to negotiate favorable terms from shipyards

SREI Infrastructure Finance’s businesses include infrastructure equipment leasing and finance, infrastructure project finance, advisory and development, insurance broking, venture capital, capital market and Sahaj e -Village. The company has been financing in the infrastructure sector for the last 22 years and has a customer base of over 30,000 all over the country.