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Shriram EPC acquires Blackstone Group
By
IANS
Chennai: City-based engineering major Shriram EPC (SEPC) has acquired 55 percent stake in engineering consulting firm Blackstone Group Technologies Ltd for an undisclosed amount.
SEPC now holds 54 percent stake in the Chennai-based Blackstone. SEPC has the option to acquire the balance equity after three years.
"The acquisition will enable us to consolidate our position in the engineering services segment. It provides synergies across our business lines of process and metallurgy, biomass power plants and pipe rehabilitation," SEPC Managing Director and CEO T. Shivaraman said.
SEPC now holds 54 percent stake in the Chennai-based Blackstone. SEPC has the option to acquire the balance equity after three years.
"The acquisition will enable us to consolidate our position in the engineering services segment. It provides synergies across our business lines of process and metallurgy, biomass power plants and pipe rehabilitation," SEPC Managing Director and CEO T. Shivaraman said.
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