CDPQ to buy additional 10 per cent stake in Apraava Energy for Rs 6.60 billion

Caisse de dépôt et placement du Québec (CDPQ), a global investment group has increased its stake in Apraava Energy (formerly known as CLP India) by acquiring an additional 10 per cent stake from CLP Group for Rs 6.60 billion.

With this, both CDPQ and CLP will hold 50 per cent stake respectively in the company. In 2018, CDPQ had acquired 40 per cent stake in Apraava, with CLP retaining 60 per cent stake. Following the current transaction, CDPQ  will have increased governance rights, equal to those of CLP, with respect to Apraava Energy. Completion of the deal is subject to several conditions being met, including regulatory approvals.