JP Morgan Private Equity is planning to acquire an 18% stake in SKIL Infrastructure, Financial Express reports. The firm will be paying around $400 million for the acquisition.
SKIL will use majority of the proceeds to retire $250 million of debt, while the remaining $150 million will be invested in its infrastructure and education operations. The stake sale will value the company at $2.2 billion.
Click here for the story from Financial Express.