Simpson Thacher is representing KKR in connection with India Grid Trust’s (IndiGrid) proposed acquisition of 100% of the units of Virescent Renewable Energy Trust (VRET) along with 100% of the share capital of Virescent Infrastructure Investment Manager Private Limited and Virescent Renewable Energy Project Manager Private Limited. Based on public filings, the transaction involves an enterprise value of up to INR40 billion (USD$483 million) subject to adjustments. IndiGrid and VRET are backed by KKR. The transaction is believed to be the first acquisition by a renewable energy Infrastructure Investment Trust (InvIT) of another InvIT.~~The Simpson Thacher team includes Ian Ho, Erik Wang and Jasper Ma (M&A); Meredith Jones and Daisy Dai (Tax); and Étienne Renaudeau (Antitrust).