TPG consortium along with ICICI Bank and GIC of Singapore, has agreed to acquire Aseem Infrastructure Finance Limited for about Rs 40 billion marking a major move in India’s green infrastructure financing space.
The transaction will result in the exit of Aseem’s existing sponsors, including National Investment and Infrastructure Fund II, the Government of India and Sumitomo Mitsui Banking Corporation. The deal includes the company’s team, brand and loan book of about Rs 18 billion. Aseem was set up to provide long-term debt funding for core infrastructure projects with a focus on clean energy. The transaction will also involve Aseem’s 30 per cent stake in NIIF Infrastructure Finance Limited.