US private equity giant KKR and top Canadian pension fund Canada Pension Plan Investment Board ( CPPIB) have launched a $465 million block deal in Indus Towers as both investors eye an exit from the leading telecom tower company, multiple industry sources in the know told Moneycontrol.
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Silverview Portfolio Investments PTE Ltd is the name of the KKR entity which holds a stake in Indus Towers
“The floor price of the proposed block deal is Rs 205 per share, which represents a 7.64 percent discount to the last closing price of Rs 221.95 per share on January 31. BNP Paribas Securities is acting as the advisor on the deal”.
Both the persons above spoke on the condition of anonymity.
KKR, CPPIB and BNP Paribas could not be reached for immediate comment.
The Indus Towers stock price has risen by 22 per cent in the last three months.
In 2017, Bharti Airtel sold a 10.3 percent stake in Bharti Infratel to a consortium of investors including CPPIB & KKR. Funds managed by KKR had also previously invested in Bharti Infratel between 2008 and 2015.
SourcE: Money control
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