The Canada Pension Plan Investment Board has reached an agreement with The Asian Development Bank (ADB) to acquire a 6.33% stake in ReNew Power Ventures for approximately $150m.
The CPP Investment Board has also invested $200m in ReNew Power Ventures through compulsorily convertible preference shares, which is equivalent to an approximate 8.5% stake.
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The CPP Investment Board is a Canada-based investment management company, while ReNew Power Ventures is engaged in power generation.
Romande Energie Services has reached an agreement to acquire PolyForce, a company based in Canada that provides heating, ventilation, air-conditioning, and refrigeration services.
Romande Energie Services is a part of Romande Energie Group. The firm aims to strengthen its business in the canton of Fribourg in western Switzerland through the acquisition.
China Machinery Engineering Corporation (CMEC) has reached an agreement with China National Machinery Industry Corporation (SINOMACH) to acquire China National Electric Engineering (CNEEC) for a purchase consideration of CNY1.98bn ($300.52m) in cash.
CMEC proposes to increase its assets base and strengthen its capabilities in design, supervision, operation, and maintenance of engineering projects through the acquisition.
CMEC focuses on construction and engineering, while CNEEC is engaged in engineering contracting of domestic and international power projects.
