Sustainable energy solutions provider Empower India Ltd. on Friday said it has signed a term sheet for the proposed acquisition of a majority stake in UAE-based MABIL.
The transaction is structured as a strategic cross-border acquisition to be executed through a share swap arrangement, the company said in a statement.
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"This acquisition marks a key international development for EIL, aimed at securing strategic market access in the Middle East.
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"By integrating MABIL, which maintains an established operational presence in the United Arab Emirates, EIL intends to leverage the UAE's position as a global commercial hub," the statement said.
EIL stated that the transaction is currently in its preliminary stages, and the term sheet outlines the broad framework of the deal, while the final acquisition remains subject to the negotiation of valuation and the execution of definitive documents.
Empower India offers services in data centre infrastructure management and renewable energy generation.
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