November 21, 2008

Goldman Sachs to invest USD 50 million in Sterling & Wilson

Reuters reported that Goldman Sachs has bought a minority stake in Indian engineering firm Sterling & Wilson Private Ltd for USD 50 million.

Mr Khurshed Daruvala MD of Sterling said that the investment will help Sterling accelerate its growth plans both locally and in overseas.

It said that Avendus Capital was the advisor for the deal.

Sterling & Wilson, part of India's Shapoorji Pallonji group, is a mechanical, electrical and plumping contracting firm.