Market Chatter: GIC Taps JPMorgan Chase to Explore Sale of Stake in India's Greenko Energy

MT Newswires Live

Dec 10, 2024

JPMorgan Chase (JPM) has been engaged by Singapore's Government Investment Corporation for a strategic review of options, including the potential sale of its 50% stake in India's Greenko Energy, Bloomberg reported Monday, citing people familiar with the situation.

The Singapore state investor is preparing for a possible deal, which may involve a full or partial sale of its Greenko stake, the people told Bloomberg, adding that certain investment funds and strategic firms have shown initial interest.

Talks are still in the early stages, and GIC may still decide not to pursue a sale, the report said.

Greenko, which is backed by the Abu Dhabi Investment Authority and Japan's Orix (IX), may explore fundraising soon to support its growth, another source told Bloomberg.

Representatives for GIC and JPMorgan declined Bloomberg's comment requests.

GIC, JPMorgan, and Greenko didn't immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 244.84, Change: -2.52, Percent Change: -1.02

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