Shearman And Sterling

News October 04, 2018

CDPQ’s Acquisition of CLP India Private Limited

Shearman & Sterling advised CDPQ on its acquisition of 40% interest in CLP India Private Limited (CLP India), a wholly owned subsidiary of CLP Holdings Limited (CLP), for INR26.4 billion (approximately US$365 million). CLP, a company listed on the Hong Kong Stock Exchange, will continue to hold the majority 60% interest. The transaction is subject to antitrust clearances and is expected to close in Q4 2018.

CDPQ is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans. CDPQ invests globally in major financial markets, private equity, infrastructure, real estate and private debt.

CLP entered the Indian market in 2002 with the acquisition of a 655-mw gas-fired plant in Gujarat and has since expanded its portfolio of operating conventional and renewable assets to over three gigawatts, making it one of the largest power providers in India. CLP India will now pursue growth in long-term sustainable renewables businesses and non-generation transmission and distribution assets. 

The Team