Eversource makes Rs 1,200 crore offer for BluSmart, but deal clouded by Gensol probe

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Eversource Capital has made a Rs 1,200 crore non-binding offer for troubled ride-hailing service BluSmart, said people aware of the matter. However, Eversource, a leading climate investor, may not pursue a deal due to ongoing regulatory probes at sister concern Gensol Engineering from whom BluSmart leases the bulk of its electric vehicle fleet, the people said.

Instead, Eversource may consider other options for acquiring BluSmart such as holding direct negotiations with Gensol’s lenders like Power Finance Corp (PFC) and Indian Renewable Energy…



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Eversource makes Rs 1,200 crore offer for BluSmart, but deal clouded by Gensol probe


Eversource Capital has made a Rs 1,200 crore non-binding offer for troubled ride-hailing service BluSmart, said people aware of the matter. However, Eversource, a leading climate investor, may not pursue a deal due to ongoing regulatory probes at sister concern Gensol Engineering from whom BluSmart leases the bulk of its electric vehicle fleet, the people said.

Instead, Eversource may consider other options for acquiring BluSmart such as holding direct negotiations with Gensol’s lenders like Power Finance Corp (PFC) and Indian Renewable Energy…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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