*PTC India Ltd* is forming a PE fund JV with *Ashmore Group Plc* by September 2010.
PTC India will hold 40% stake in the PE fund while the remaining stake will be with Ashmore Group. The PE fund plans to invest in power, coal and port projects. Transaction Note *PTC India*, a government initiated Public-Private Partnership, is a provider of power trading solutions in India. Last month, *NTPC* is believed to have approached the Power Ministry on selling off its 16.5% stake in PTC India as the company plans to focus on its own power trading business. At that time, *HPC, Power Finance Corporation* and *Power Grid Corp *currently held 16.5% stake each in PTC India. PTC India's subsidiary *PTC Financial Services* is likely to go public with an initial public offer in this financial year. Ashmore Group PLC, listed on London Stock Exchange, is a specialist emerging markets asset manager. The company has about $33 Bn assets under management- i.e. a 4% increase during the third quarter. As on December 2009, its AUM was around $31.6 Bn. The drivers of this increase were net inflows of $0.8 Bn principally into the external debt and local currency themes, and positive performance of $0.6 Bn -- Regards Hardik Shah -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
