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KEC buys SAE Towers

Tuesday, 07 Sep 2010
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KEC International on 6 September 2010 inked an agreement with SAE Towers Holdings. The deal worth $95 million (approx Rs 441.75 crore) was signed for acquiring 100 per cent stake in Houstan based SAE Towers.

SAE Towers is a manufacturer of steel lattice transmission towers, producing 1,00,000 tpa. It also makes steel poles for electrical transmission and related hardware.

Sagent Advisors and Daiwa Capital Markets India were the financial advisers to KEC for the deal, and Harris Williams & Co was the financial adviser to SAE Towers.

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