Mumbai, Sep 16 (PTI) Digital infrastructure company Empower India Ltd on Wednesday announced that it has signed a non-binding term sheet with Mark AB Capital Pvt Ltd to acquire Valiance Engineers in an equity share-swap deal.
The proposed transaction will be structured as a 100 per cent non-cash share swap via the preferential allotment of fresh equity shares of Empower India, establishing Valiance Engineers as a wholly owned subsidiary, the company informed stock exchanges in a release.
Mark AB Capital, a majority shareholder in Valiance Engineers, will transition into an equity shareholder of Empower India, it said without disclosing financial details.
The proposal comes as Empower India continues to explore opportunities in emerging technology,
infrastructure, and engineering-led businesses.
Valiance Engineers contributes an established operating base across Realty, Civil, Oil & Gas, and Public Infrastructure, the company said.
“Valiance Engineers brings critical process engineering expertise, an extensive domestic footprint, and proven North American delivery capabilities through Lauren Engineers. This structural combination equips Empower India to execute large-scale, sustainable infrastructure projects at the intersection of energy transition and digital growth,” Rajesh Chavan, Managing Director, Empower India Limited, said.
Empower India last month made a foray into sustainable digital infrastructure solutions to tap India’s USD 22 billion data centre opportunity. It plans to develop customised Green Data Server and Data Centre offerings. PTI IAS MR
