Temasek-backed Sembcorp buys out partner Gayatri Projects in Indian unit

Sembcorp Utilities, a wholly-owned subsidiary of Sembcorp Industries (Sembcorp), has signed a non-binding term sheet with Gayatri Energy Ventures Pte Ltd (GEVPL), a wholly owned subsidiary of Gayatri Projects Limited, to acquire the remaining 5.95% stake in Sembcorp Energy India Limited (SEIL). Following the completion of the proposed acquisition, Sembcorp will become the sole owner of SEIL.