GVKPIL to sell 49% in SPV to Macquarie for Rs 465 cr
Infrastructure major GV Krishna Reddy Power and Infrastructure (GVKPIL) is set to divest a 49% stake in a special purpose vehicle (SPV) to Australia-based Macquarie Group for Rs 465 crore.
By Sai Deepika Amirapu, ET Bureau |
HYDERABAD: Infrastructure major GV Krishna Reddy Power and Infrastructure (GVKPIL) is set to divest a 49% stake in a special purpose vehicle (SPV) to Australia-based Macquarie Group for Rs 465 crore, reports Sai Deepika Amirapu. The SPV was set up to execute the Jaipur-Kishangarh Expressway project that was completed in 2005.
The company is contemplating divestment now as it believes that valuations are good. The valuation of this SPV is estimated at over Rs 950 crore.
The Macquarie Group is a global provider of banking, financial, advisory, investment and management services. The deal may be sealed by January next year. However, an independent confirmation was not available from the Macquarie Group.
The company is contemplating divestment now as it believes that valuations are good. The valuation of this SPV is estimated at over Rs 950 crore.
The Macquarie Group is a global provider of banking, financial, advisory, investment and management services. The deal may be sealed by January next year. However, an independent confirmation was not available from the Macquarie Group.
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