The Economic Times reports that Morgan Stanley Infrastructure Partners has agreed to buy a majority stake in privately held Continuum Wind Energy for about $210.1 million.
According to the newspaper, Singapore-based Continuum, founded by Essar Group executive Vikas Saraf and investment banker Arvind Bansal, runs wind energy farms in India.
Continuum will likely issue preferential shares to the Morgan Stanley unit – which will be converted into equity at a later date, the newspaper reports.
