Morgan Stanley in the race to buy DLF’s wind power
As per records, Morgan Stanley, the US-based investment bank, is in the process to buy real estate firm DLF’s wind power business.
It shows the bank’s heightened private equity interest in renewable assets. Morgan Stanley is keen on buying DLF’s business to consolidate wind power assets in India.
DLF’s wind power business was put on the block recently to raise cash to pare debt. DLF has been trying to sell a number of its non-core assets to reduce its debt of Rs 22,725 crore. In the fiscal 2011-12, it managed to raise only Rs 1,774 crore against a target of Rs 5,000-6,000 crore.
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