Industry sources have reported that BHEL has put in a non-binding bid for Skoda Power. BHEL officials have however declined to comment on the potential deal and Skoda Power could not be reached immediately for a response. The value of the transaction is pegged at one billion dollars. This is just one part of the many businesses that Skoda Holding has out on the block for sale. Sources say that the total value of the entire businesses on sale is at USD 17 billion. But BHEL is bidding only for the units that manufacture power equipment.
The advantage that BHEL will have, as sources say, is that Skoda Power has thermal technology for ultra super critical sets as well as technology for making equipment that generates nuclear power. Skoda Power is also building a manufacturing facility for power equipment in Chennai and this facility is also a part of the bid. BHEL is competing with 15 other global companies for this asset. There is also another Indian bidder from a private company. The bids are expected to open on October 15.
source:
http://news.moneycontrol.com/india/news/business/bhel-may-bid-for-skoda-power-sources/17/03/361312
Thursday, October 16, 2008
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