Kalpataru Power do Brasil Participações Ltda, a wholly owned subsidiary of Kalpataru Power Transmission Limited (KPTL) in Brazil has signed a definitive agreement to acquire 51 per cent stake in Fasttel Engenharia Ltda.,Brazil (Fasttel) for around $ 8.80 million. …
The acquisition of Fasttel is in line with KPTL’s strategy to strengthen its core engineering, procurement, and construction business and have geographical presence in stable and growing markets. The transaction is expected to conclude by end of April-June 2021-22. Fasttel operates into three business segment, comprising of EPC of substation, transmission and distribution network services with revenue of around $47 million in 2020. The company has presence in Brazil with an order book of around $95 million.