KEC International to make $100 mn acquisition

NEW DELHI: RPG Group company, KEC International, is looking at acquiring assets in the power transmission segment for over $100 million. The company is considering options in US & Africa for the acquisition. RPG group chairman, Harsh Goenka told ET NOW that the company is actively scouting for options and will make the acquisition in the near future.

KEC recently acquired Texas-based SAE Towers for $95 million (about Rs 440-crore) on a cash-free and debt-free basis. The company had recently also acquired Jay Railway Signalling for close to Rs 14-crore, barely a week after sealing the buy-out of SAE Towers Holdings.

‘The valuations in US & Africa look very attractive and this is the right time for Indian companies to buy ‘Mr Goenka told ET NOW.

The group is also on the look out for acquisition in its tyre, IT & plantation business. Mr Goenka said ‘For our plantation business we are looking at South East Asia & Africa for acquisition’.