GMR Infra to acquire 50 pc stake in InterGen
GMR Infrastructure said that it will acquire 50 pc stake in global power generation company InterGen for USD 1.1 bn.
By PTI |
MUMBAI: GMR Infrastructure today said it will acquire 50 pc stake in global power generation company InterGen for USD 1.1 bn.
"This is the largest-ever acquisition of a global energy utility by an Indian company. After this acquisition, we are the largest power sector player in the country," GMR Executive Vice President Madhu Terdal told reporters.
The company has raised USD 1.1 bn through a bridge loan from a consortium of Indian banks, he said.
The bridge loan would have a maturity of two years after which it would be converted into a long-term loan.
"This is the largest-ever acquisition of a global energy utility by an Indian company. After this acquisition, we are the largest power sector player in the country," GMR Executive Vice President Madhu Terdal told reporters.
The company has raised USD 1.1 bn through a bridge loan from a consortium of Indian banks, he said.
The bridge loan would have a maturity of two years after which it would be converted into a long-term loan.
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