Mumbai : SBICAP and PEL have agreed to cooperate on business related opportunities in acquiring controlling stakes in Road PPP Assets where many developers are looking at hiving off their completed / near completion assets to repair their Balance Sheets.
SBICAP and PEL have mutually agreed to engage on a preferred relationship basis for advisory services for such identified road assets. SBICAP would also assist PEL in obtaining necessary approvals for closing such transactions.
Commenting on this partnership, Mr. Parvez Umrigar, Co-Head – Structured Investment Group, Piramal Enterprises said, “SBICAP is the largest investment banker having strong relationships with infrastructure developers and enjoying highest level of confidence within the banking industry. Piramal considers road sector as an important area of investment and we believe that our partnership with SBICAP is a step towards achieving this objective.”
Source : Sachin Murdeshwar