Power Play Intensifies: Tata Group Eyes Full Control of Resurgent in $2.1 Billion Buyout Talks

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Tata Group is reportedly in advanced discussions to acquire the remaining 74 percent stake in Resurgent Power Ventures Pte, a Singaporebased power generation and transmission firm. The move, if finalized, would give Tata Power complete ownership of Resurgent, consolidating its position in India’s energy infrastructure landscape.

Key Highlights of the Buyout Proposal

Tata Power currently holds a 26 percent stake in Resurgent through a subsidiary
The remaining 74 percent is owned by ICICI Venture Funds Management, Kuwait Investment Authority (KIA), and Oman Investment Authority (OIA)
The investors are seeking a valuation of approximately $2.1 billion for the entire company, including debt
Tata Power is working with an adviser to facilitate the buyout, though discussions remain confidential and nonbinding

Resurgent’s Portfolio and Strategic Value

Resurgent Power holds a 75 percent stake in Prayagraj Power Generation Co., a major thermal power asset in Uttar Pradesh
The company also owns stakes in other power transmission operators across northern India
The portfolio was built through acquisitions of stressed assets, aligning with Tata Power’s strategy to expand via inorganic growth

Investor Background and Ownership History

KIA and OIA entered Resurgent in 2019 by acquiring shares from Canadian pension fund CDPQ
In 2020, Oman’s State General Reserve Fund merged with the Oman Investment Fund to form OIA
ICICI Venture has been a founding partner in Resurgent, playing a key role in asset identification and financial structuring

Market Impact and Forward Outlook

A successful buyout would allow Tata Power to streamline decisionmaking and accelerate operational integration
Analysts expect the deal to enhance Tata Power’s asset base and improve longterm earnings visibility
The move reflects Tata Group’s broader push to consolidate and scale its energy holdings amid India’s clean energy transition

As Tata Group negotiates to take full control of Resurgent Power Ventures, the potential $2.1 billion deal signals more than just ownership—it’s a strategic consolidation of energy assets that could reshape the group’s power portfolio for the next decade.

Sources: Economic Times, Moneycontrol, NDTV Profit, Business Standard

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