Shriram EPC buys 55pc in Blackstone Group

New Delhi, Sep 1: Shriram EPC (SEPC), one of the leading engineering, procurement and construction (EPC) service provider, on Monday, September 1 said it has acquired 55 per cent stake in Chennai-based engineering consulting firm Blackstone Group Technologies.

Without divulging the financial details of the deal, the company said the acquisition will help SEPC consolidate its position as a leading provider of engineering services and provide synergies across business lines of biomass power plants and pipe rehabilitation. SEPC, which has the option to acquire the balance equity after three years, will fund the acquisition through internal accruals, it said in a statement.

UNI