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GMR Infra in talks to sell $200 million in road assets

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Bangalore :

GMR Infrastructure Ltd is in talks with private equity investors to raise roughly $200 million by selling stakes in road projects, three sources with direct knowledge of the matter said.

 

The company is in talks with a fund jointly managed by India's largest lender, State Bank of India, and Australia's Macquarie Group for an investment, sources said.

 

It is also in talks with UK-based private equity firm 3i Group Plc and IDFC Project Equity, a fund managed by India's Infrastructure Development Finance Co., said the sources, who declined to be named as the negotiations were not yet public.

 

GMR is also looking at an eventual initial public offering of its road assets, said the sources.

 

GMR Infrastructure, IDFC, 3i and SBI-Macquarie all declined to comment.

 

Copyright @ Thomson Reuters 2012

Story first published on: February 28, 2012 13:37 (IST)

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