Bharat Heavy Electricals Ltd. (BHEL) is reportedly contemplating forming a joint venture for overseas acquisitions, and is in talks with ONGC, Reliance Industries, Reliance Energy and L&T for the same.
According to a financial daily, the new JV is aimed at gaining the right financial strength to bid for overseas companies against stiff global competition. The newspaper adds that BHEL unsuccessfully tried to acquire two solar power equipment makers - one in Europe and another in the US.
The new BHEL JV would focus on acquiring companies engaged in making power equipment, both in conventional and renewable energy space, says the business daily. It will also look at tapping companies engaged in production of equipment for oil and gas sectors, it adds.
The acquisition will be helpful in getting new technologies and expertise, intellectual property rights, product extensions and market access, the newspaper says, adding that the proposed JV would focus on developed markets like the US and Europe.
ref:
http://www.indiainfoline.com/news/innernews.asp?storyId=63993&lmn=1
Monday, April 7, 2008
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