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Indian infrastructure investor GMR to sell assets to private equity firms

28 Feb 2012

Indian infrastructure group GMR Infrastructure is looking to sell interests in three road projects to private equity firms.

According to Reuters, GMR could raise up to $200m through the deal, and is in negotiations with 3i, IDFC Project Equity and an infrastructure fund managed by Macquarie and the State Bank of India.

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.

GMR focuses on airports, energy, highways and urban infrastructure sectors, through the public private partnership model. It focuses on India, with operating assets and projects in other countries including Turkey, South Africa, Indonesia, Singapore and the Maldives.

In January this year, GMR Energy, a subsidiary of GMR Infrastructure, commissioned its first 25MW Solar Power Plant at Patan district in Gujarat, marking the group’s foray into the renewable energy space.

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