Deal watch

Every month, we bring you a listing of the biggest deals struck by Indian companies in India and abroad. Our partner: global professional services firm Ernst & Young. Here are the deals that were struck in November 2007.

Deal particulars: Environ Energy Global Pvt. Ltd., a Kolkata-based solar energy solutions player, has acquired 100 per cent of the Shell Solar India unit and Shell Solar Lanka unit from Shell Overseas Investments BV, the holding company of global oil giant Shell. Environ Energy has been providing solar energy through innovative methods, especially in rural and domestic households and also institutions such as schools, banks, government offices and other utilities.

Impact analysis: This is another example of little-known Indian companies getting the confidence to ‘think global’ and acquire players bigger than themselves in spite of competitive pressure from international bidders. This acquisition will make Environ one of the major players in the solar photovoltaic solutions market in the world.