TRIL and Piramal Group may collaborate in infrastructure arena
Tata Group chairman Cyrus Mistry and Piramal Group head Ajay Piramal are reportedly in talks to work out a partnership for the infrastructure business in India; thereby exploiting the infrastructure opportunity unfolded by the Narendra Modi government.
Sources familiar with the ongoing talks between Mistry and Piramal have revealed that the two corporate biggies recently held a meeting to finalise the collaboration of the Tata Group and the Piramal Group in the infrastructure arena.
According to the details shared by the sources, the talks between Mistry and Piramal will apparently lead to the formation of a joint venture involving Tata Realty & Infrastructure Limited (TRIL) and the Piramal Group for owning and operating infrastructure assets. The funding for the acquisition of infrastructure assets for the venture will be provided by the Piramal Group.
One of the sources also said that there also discussions underway with regard to Piramal Group’s purchase of a stake in TRIL.
With both TRIL and Piramal Group have, in the recent past, showed that the infrastructure sector is one of their focus areas, Mistry had said while presenting the Vision 2025 of the Tata Group: “To maximise synergies, the group is creating a special focus on four new clusters: Defence & Aerospace, Retail, Infrastructure, Finance.”
Source – The Economic Times
Ajay Piramal, Cyrus Mistry, Narendra Modi, Piramal Group, Tata Group, Tata Realty & Infrastructure Limited
