For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts
Oneindia App Download

GMR acquires 50 pc in Netherlands-based company for Rs 4,730 cr

By Staff
|
Google Oneindia News

Mumbai, Jun 25 (UNI) GMR Infrastructure Limited today announced its acquisition of 50 per cent stake in Netherlands-based power generation company -- 'InterGen NV' -- for Rs 4,730 crore (USD 1.1 billion).

The Company signed the share purchase agreement with AIG Highstar to acquire the stake in InterGen, it said in a communion to the stock exchange. Ontario Teachers Pension Plan holds the other half of the power company, which operates in five countries.

''This acquisition will provide us a platform to expand in InterGen's existing and new geographies of strategic importance to both GMR and Teachers,'' Group Chairman G M Rao said.

InterGen has ownership interest in 12 operating power plants, including one under construction, with a gross capacity of 8,258 megawatts and 4,822 megawatts of assets under development. The average age of its operating plants is 5.5 years, GMR added.

UNI PP GR VKG1258

For Daily Alerts
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
X