I Squared Capital, Brookfield and National Investment and Infrastructure Fund (NIIF) are in the early stages of talks to acquire CleanMax Enviro Energy Solutions, a rooftop solar producer. The potential buyers recently made a non-binding offer, according to two people who are aware of the development. The proposed deal values CleanMax at $1 billion, including its debt.
Currently, US-based Augment Infrastructure has a majority stake in CleanMax. Last year, Augment Infrastructure acquired a majority stake from Warburg Pincus and IFC in a deal of Rs 1,650 crore, including primary capital injection.
Rothschild investment bank is the advisor for the share sale. According to sources, other global infrastructure investors such as Canadian fund CPP Investments (CPPIB) and Australian major Macquarie are also considering this transaction. However, this information could not be confirmed.